EU approves €30.5bn French scheme to support renewable electricity production

The European Commission has approved the French Government’s €30.5 billion (£26bn) scheme to support the production of electricity from renewable energy sources.

It will provide grants to renewable energy operators via competitive tenders – in particular, the measure includes seven types of tenders for a total of 34GW of new renewable capacity between 2021 and 2026.

They are solar on the ground, solar on buildings, onshore wind, hydropower installations, innovative solar, self-consumption and a technology neutral tender.

The scheme will support France in achieving its renewable energy targets without distorting competition and contribute to the European objective of achieving climate neutrality by 2050.

Executive Vice President Margrethe Vestager, in charge of competition policy said: “This aid measure will stimulate development of key renewable energy sources and support a transition to an environmentally sustainable energy supply, in line with the EU Green Deal objectives.

“The selection of the beneficiaries through a competitive bidding process will ensure the best value for taxpayers’ money while maintaining competition in the French energy market.”