France cuts tariffs but confirms 6 offshore wind projects

France’s president Emmanuel Macron today announced that six offshore wind projects will go on with their development following an agreement to reduce their public subsidy by a quarter.

A couple of tweets from the president and environment minister Nicolas Hulot unveil that the tariffs have been lowered to EUR 150 (USD 173.7) per MWh from EUR 200 per MWh.

A consortium led by Electricite de France SA (EPA:EDF) is behind three of the six projects: the 498-MW Fecamp in Seine-Maritime offshore wind farm in the English Channel, the 450-MW Courseulles-sur-Mer scheme in Calvados, also in the English Channel, and the 480-MW Saint-Nazaire project in Loire-Atlantique on the Atlantic coast.

Meanwhile, a group led by Engie SA (EPA:ENGI) is to install and operate offshore wind farms in the areas of Treport, Upper Normandy, and the Isles of Yeu and Noirmoutier, in Pays de la Loire. Each of the two will be of around 500 MW capacity.

Last but not least, Spain’s Iberdrola SA (BME:IBE) has won the 496-MW Saint Brieuc offshore wind project in Brittany.

Local media quoted president Macron as saying that the renegotiation of the tariffs will save over EUR 15 billion of public money.

(EUR 1.0 = USD 1.158)

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