France State Bank to provide $680 million for renewable projects
Cité des sciences et de l’industrie, Paris, France (source: flickr/ george kiwi, creative commons)
Francisco Rojas
24 Jun 2014
Caisse des Depots et Consignations will assign $680 million for renewables in France as part of new energy legislation. The funds will originate in banks and will be destined to loans at competitive interest rates to increase energy efficiency and to foster renewables and downsize nuclear in the country.
Financing will be mostly from private industry, with loans “at the heart” of achieving the law’s goals, Finance Minister Michel Sapin told the conference. The law proposes more zero- interest loans for efficiency improvements to homes, as well as tax credits, energy ministry documents released today show. It also seeks to create jobs in renewables and construction.
The legislation reiterates President Francois Hollande’s goal of shrinking the share of electricity generated with atomic power to 50 percent in 2025 from three-quarters now. It seeks to raise the share of renewable energy France uses to 32 percent by 2030, compared with about 14 percent in 2012.
Source: Renewable Energy World Website
