French Government awards 1GW solar projects and lines up 7GW for future auctions

20 May 2020 (Last Updated May 19th, 2020 17:21)

On 28 April, World Economic Forum (WEF) outlined how sustainable infrastructure can aid post-Covid-19 recovery. WEF suggestion is in line with International Renewable Energy Agency’s (IRENA) – Global Renewable Outlook, published on 20 April 2020. IRENA highlights how the decarbonisation of the energy system could support short-term recovery while creating resilient and inclusive economies and societies. Countries like Australia, France, Spain and China have taken the first steps, stimulating the power sector by attracting investments in renewable infrastructure. However, utilities or RE developers need to overcome Covid-19-induced challenges around accessing capital, debt and to supply chains, which can restrict the entry of new investments.

In the first week of April, France Energy Ministry awarded 1.7GW of renewable projects to private developers who participated in the national-level auctions. The auctions were as per the plan drafted in France’s multi-annual energy programme. Of the total 1.7GW, wind turbine will power 750MW and different solar technologies will power the rest. Overall, 288 projects were approved from several procurement rounds. These projects have a realistic potential to supply 2.6TWh of electricity every year to the French grid.

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