Investing for environment and climate change is considered as financially not rewarding -the latest target of France to generate 45 MW Offshore wind may challenge this standard notion. France is rapidly increasing its wind power generation target. Last year the target was 5 MW, and this year, the target is set to generate 45 MW through offshore wind power by 2050. Referring to Bruno Le Marie, the Economy Minister of France, it is reported that 4 farms are already on track to reach 4 GW goal by 2030. 15 projects are in pipeline to meet 18 GW target by 2030. But this is not solely being targeted to meet climate goals. 9 countries of EU have target to generate 120 GW from offshore wind. Generation of 45 GW by one country is very impressive. This massive shift is being targeted by France to boost the European and French offshore wind firms, which are facing steep competition from China. China's market share in Offshore wind firm is 22.2% (
Right kind of policy support can make a huge difference is renewable sector. Economic experts across the globe may like to follow this courageous move of France as an interesting case study. Climate financing needs news of similar initiatives of other countries not only to be on track for net zero but also to be established as economically rewarding ventures.
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Clean and renewable energy sources are really the future. This is a great plan
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France's commitment to generating 45 GW of offshore wind power by 2050 marks a significant leap from last year's 5 MW target. This ambitious plan not only aims to meet climate goals but also to strengthen the European offshore wind market amidst tough competition. However, I think you should direct the climate love to France as opposed to Climate Home News which is a media centre.
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Kudos to France for its commitment to renewable energy and to Climate Homes News for keeping us informed and inspired!
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@princess_nel_268 It signifies a strong commitment to renewable energy, which is essential for combating climate change, reducing reliance on fossil fuels, and promoting sustainable economic growth. This initiative not only helps in achieving environmental targets but also positions France as a leader in the global clean energy transition.
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This is a great message to all climate action deniers, that it is posible to transition to clean energy and still boost the economy.
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@joseph_githinji Moving to clean energy is not only possible but can also drive economic growth. France's commitment is proof that sustainability and prosperity can go hand in hand. More countries should get aboard
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Great! This is a strong commitment towards sustainable energy investment & combating #climatechange while potentially boosting the economy.💚