"France 2030" Investment Plan
France 2030, which budget provisions were voted by the French National Assembly, is endowed with EUR 34 billion of commitment appropriations, which includes EUR 30 billion in subsidies and EUR 4 billion in funding schemes to be deployed over 5 years. EUR 3.5 billion are allocated for the year 2022, of which EUR 2.84 billion in grants and EUR 0.66 billion in equity investments.
France 2030 is composed of 10 strategic points, including:
- EUR 8 billion allocated for the energy sector to develop small nuclear reactors (€1 billion), green hydrogen (€1.9 billion), and decarbonise industry (€5.6 billion)
- EUR 4 billion to produce nearly two million electric and hybrid vehicles (€2.5 billion) and low-carbon airplanes (€1.2 billion)
On 10 February 2022, additional provisions unveiled:
- The construction of six new nuclear reactors EPR 2, accounting for 25 GW. The duration of the reactors has been extended to over 50 years.
- Investments in renewable energies worth EUR 1 billion. The renewable power installed will increase ten times by 2050, up to 100 GW. 40 GW will come from offshore wind farms.
- Cutting energy consumption by 40%, through building renovation, the renewal of the car fleet and the decarbonisation of the industry.
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