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France to boost Green Industry through Couple of Billion Dollars of Loans and Grants

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France has very low percentage of its energy mix being generated by non-nuclear Green Energy forms as most of its power is derived from Nuclear Energy.The low cost of abudant nuclear power has made France relatively immune from the Energy Insecurity faced by the rest of Europe.While Germany and Spain have installed large amounts of solar and wind energy,France remains a laggard in this respect.Unlike the other EU heavyweights,it has few companies in the field of Green Energy due to lack of a vigourous domestic market.

France to offer Euro 1.35 Billion for Green Industry over next 5 years

France has decided to offer Euro 1.35 Billion in loans and grants for development of Green Technology over the next 5 year.190 million Euros will be offered in 2010 with 290 million Euros each over the next 4 years.This plan will invite applications from companies who can help France achieve its Green Roadmap.”Demonstrateurs energies renouvelables et chimie verte” as the program is known is copied from similar programs being implemented in the rest of Europe and the USA.Earlier France had passed two major environmental laws Grenelle 1 and 2 to help in climate change mitigation.

France Opens 1.35 Billion-Euro Renewable Energy Funding Plan – Bloomberg

The French government has opened a program aimed at giving 1.35 billion euros ($1.75 billion) in financial support to the renewable energy and biofuel-chemistry technologies by 2014.The Environment and Energy Management Agency’s program is the first of several sustainable development-related plans set out in the country’s future investments bill passed in March. It was detailed on Aug. 8 in France’s official bulletin of new regulations, a spokeswoman for the agency said by e-mail.

The renewables program, known as demonstrateurs energies renouvelables et chimie verte, will allocate 450 million euros in subsidies and 900 million euros in loans. Funds will go to industries including solar, marine, geothermal, carbon capture and “green chemistry” for biofuels, the spokeswoman said.

PG

Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to greensneha@yahoo.in

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