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France

France

Billions promised by French government for renewables infrastructure

FRANCE: Renewable and zero-carbon energies are to get an extra EUR2.5 billion funding from a total of EUR35 billion the French government hopes to borrow to pay for vital infrastructure.

ADEME: to receive EUR2.5million to fund new projects
ADEME: to receive EUR2.5million to fund new projects

The "big loan", as it is dubbed, is intended to boost growth at the same time as helping the transition to a sustainable, low-carbon economy.

Of this, EUR5 billion is earmarked for sustainable development; EUR1 billion will go to developing electric vehicles and energy-efficient transport; EUR1 billion to fourth-generation nuclear reactors; and EUR500 million for renovations to improve the thermal efficiency of the residential sector.

A further EUR2.5 billion will be channeled through the French national energy agency ADEME to establish world-class research institutions and fund the most promising projects in renewable and non-carbon energies.

Environmental agencies, however, say the government is focusing too much on nuclear power and aerospace and argue that it has missed a rare opportunity to engage in substantial investments for a truly greener future.

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