🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

EU executive approves support for six offshore wind farms in France

Published 26/07/2019, 11:26
© Reuters.  EU executive approves support for six offshore wind farms in France

BRUSSELS (Reuters) - The European Commission said on Friday it approved French state aid for six offshore wind farms in France to help the country meet its climate and renewable energy targets.

The farms, which will each have 62 to 83 wind turbines and an expected capacity of 450 to 498 megawatts, should allow to France boost its renewable energy generation capacity by about three gigawatts and curb its carbon dioxide emissions.

"The level of aid granted to the six projects is proportionate and does not entail overcompensation of the beneficiaries," the Commission said.

The construction of the six wind farms off France's north-western coast is likely to start this year and be operational in 2022, the Commission said.

The companies involved, selected through two tenders in 2011 and 2012, will receive the support in the form of feed-in tariffs over a period of 20 years, the Commission said.

Under EU law, the bloc's governments can provide state support for the production of electricity from renewable energy sources under certain conditions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.