France Plans $55 Billion in Windfarms as Offshore Projects Gain Momentum
Researched by Industrial Info Resources (Sugar Land, Texas)--The COVID-19 pandemic has failed to slow investment in France's wind energy sector. The bulk of the investments are for onshore wind installations, but offshore facilities are picking up pace. To fulfil its climate and energy goals, France plans to continue construction of windfarms to bridge the gap in its installed base, as it phases out nuclear units.
Industrial Info is tracking more than $55 billion worth of wind power projects in France. Engie Green, RWE France, Abo Wind France, Volkswind France and EDF Renewables are among the top companies by investment.
Click on the item at right for a graph showing project activity by the top 10 regions in France.
Picardie, Poitou-Charentes and Champagne-Ardenne are the top three French regions for active wind farm project activity accounting for about 26% of the value of projects.
The offshore wind power projects account for $21 billion of the total, and are large total investment value projects, some exceeding $3 billion for 490 megawatts, such as projects being developed by Ailes Marines SAS and EDF Energies Nouvelles.
France already has a very low-carbon electricity mix owing to a large nuclear fleet, according to the International Energy Agency, but plans to reduce the share of nuclear from 70% to 50% in its electricity mix by 2035 and close all coal plants by 2022. By 2028, France wants to double installed renewable electricity capacity to up to 113 gigawatts (GW), compared to 2017, according to the Institute for Energy Economics and Financial Analysis.