The European Commission has approved a €4.12bn French scheme to support the construction and the operation of two floating offshore wind parks in the Golfe du Lion (southern France). The two floating offshore wind parks supported by the measure will be among the first commercial projects of this kind in France. Each project is expected to have a capacity of 230 to 280 MW, and to generate 1.1 TWh/year of renewable electricity.
Under this 20-yearscheme, the aid will take the form of a monthly variable premium under a two-way contract for difference (CfD), which will be calculated by comparing a reference price, determined in the tender offer of the beneficiary (“pay as bid”), as well as by the market price for electricity.
The measure was approved under the State aid Temporary Crisis and Transition Framework, adopted by the Commission in March 2023 and amended in November 2023, which aims support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies in Europe.
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