France Provides Incentives for Renewable Energy Programs

The French government has launched a huge investment package towards renewable energy. A total investment of €1.35 billion is to be made during a 4-year period. The program has been termed as “demonstrateurs energies renouvelables et chimie verte,” in French, which translates into English as “renewable energy and green chemistry demonstration.”

This investment will include €450 million as subsidies and another €900 million as low-interest loans towards projects that make use of cutting-edge technologies in the emerging fields of advanced biofuels, carbon storage and capture, geothermal energy, marine energy and solar energy.

Additionally, around €190 million would be invested by 2010 end, while another €290 million would be invested every year till 2014. The French government is also actively involved in getting private investors to invest €2 billion. There are also reports indicating that the government of France is looking beyond the programs for clean energy investment such as investment programs for smart grid demonstrations with a €250 million investment and the green transport program with an investment of €1 billion.