The French Government is planning to have 250 MW of tidal energy capacity awarded by 2030, as part of the third edition of the country’s energy strategy on the way towards carbon neutrality by 2050.
The Publication Pluriannuelle de l’Energie (Multiannual Energy Programme (PPE)) includes commercial tenders for 250 MW of tidal energy capacity to be awarded by 2030, seen as the last missing piece to trigger the industrialization of the sector.
According to Ocean Energy Europe, the EU has long supported the industry via its Horizon Europe and Innovation Fund programs, while national support was the last missing piece of the financing puzzle and the large-scale tenders will guarantee a return for investors, who have been waiting for such a signal.
Deployments at this scale will kick-start mass-manufacturing, standardization, and ultimately cost reductions, the company said.
“The French Government has finally confirmed its intention to develop a tidal industry Made in France and in Europe. The signal to investors is very clear: there is a new renewable technology you can now invest in!” said Rémi Gruet , Ocean Energy Europe CEO.
“This will benefit the entire value chain, from energy producers to public bodies to consumers. We look forward to work with the sector and national authorities to make this industrialisation a success akin to that of offshore wind or solar PV.”
France’s multi-year energy program sets several priorities, including the guarantee of the country’s sovereignty by ensuring the availability of the necessary energy resources, making energy accessible at controlled, competitive and affordable prices, decarbonization of the energy mix, as well as access to low-carbon mobility across the entire territory.
The announcement follows the UK’s largest Contracts for Difference (CfD) round ever in capacity, where four tidal energy projects were awarded contracts for a capacity of 20.9 MW. This is the UK’s fourth round of support to tidal energy projects for a total of 140 MW.