EC okays EUR 2.08bn of state aid for French floating wind project

The European Commission (EC) said on Monday it has approved, under EU State aid rules, a EUR-2.08-billion (USD 2.23bn) measure in France to support a floating offshore wind farm with an expected capacity of 230 MW to 270 MW.

The project, to be located off the coast of the South of Brittany, will be the first commercial-scale floating offshore wind farm in the country.

The approved measure will run for 20 years, commencing with the wind farm’s start-up in 2028, and will have a total maximum budget of EUR 2.08 billion.

The aid will take the form of a monthly variable premium using the model of a two-way contract for difference. Its beneficiary will be selected through a bidding process and is due to be determined in the second semester of 2023.

In September 2022, the French government selected a site off the Belle-Ile-en-Mer island, south of Brittany, to build the country’s first floating offshore wind farm.

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