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Stimulus package boost for renewables
1 January 2009
France's state-run utility EDF will invest an additional EUR 300 million in renewable energy generation this year as part of the government's EUR 26 billion economic stimulus package announced last month. The news was revealed in an interview with EDF chairman Pierre Gadonneix published in leading national daily, Le Figaro. The government package calls on public companies, such as EDF, the railways and the post office, to help boost economic growth by stepping up their investment plans. For EDF, Gadonneix said the group would bring forward plans already in place totalling EUR 2.5 billion. In addition to the EUR 300 million reserved for renewables, particularly solar power, a further EUR 300 million is earmarked for infrastructure projects in French overseas territory and EUR 200 million for "French provision for the development of international nuclear power." The rest will be spent on improving the transmission and distribution grids and improving EDF's production plant, Gadonneix said.
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