The election of French president Emmanuel Macron signals exciting opportunities in the French wind sector, where targets are in place for 32GW of onshore and offshore capacity by 2023, according to A Word About Wind’s Finance Quarterly.
“Although nuclear power accounts for 75% of France’s electricity production, installations of almost 1.6GW of new wind farms in 2016 put ‘L’Hexagone’ second only to Germany in terms of annual wind installations in Europe,” said Richard Heap, Editor, A Word About Wind.
“Macron is committed to furthering the role of renewables in France’s energy mix: in line with his pledge to “make our planet great again,” the president has announced plans to launch tenders for 26GW of additional renewable capacity during his term, as part of a five-year, €50bn infrastructure investment plan.”
A Word About Wind’s report underlines the opportunities that a greater Gallic eagerness for renewables presents to wind developers, operators and investors.
“Complex regulation, together with tariffs set up to favour local manufacturers, has long made the French wind sector an insider’s game,” said Adam Barber, Managing Director, The Tamarindo Group, of which A Word About Wind forms a key part.
“The launch of our new report series explains how Macron’s more open approach to business, in combination with his enthusiasm for renewable alternatives to nuclear energy, looks set to shift the market momentum to the benefit of new industry players.”
Complementing its analysis of the wind sector in France, A Word About Wind’s report includes an interview with Luc Goossens, director of wind, hydro and geothermal at the French utility giant, Engie. Goossens outlines how the company is augmenting the proportion of renewables in its energy portfolio within France, as well as describing the expansion of the business’s wind industry investments into emerging South American, African and Asian markets.
This Finance Quarterly is the first in a series of special reports, produced for global energy developers, financiers and investors.