Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

France picks zone off Normandy coast for new 1GW windfarm

Published 12/05/2020, 04:25 AM
Updated 12/05/2020, 04:35 AM
© Reuters. FILE PHOTO: French government presents crisis recovery plan for economy

PARIS (Reuters) - France has identified a zone off the coast of Normandy for the construction of a 1 Gigawatt (GW) windfarm and launched the tender process for its development, Environment Minister Barbara Pompili said on Saturday.

The planned windfarm will be located 32 km (20 miles) off the shore of Cotentin and generate the electricity needed to power 800,000 homes, Pompili said in a statement.

It will be France's eighth offshore wind farm. The government's current multi-year energy plan targets tenders for wind farms to generate a combined 2.5 to 3 GW by 2024.

Fishermen from the region, who are already worried about the impact of Brexit on their industry, expressed concerns during a public debate that the wind park could harm their livelihoods.

Latest comments

Offshore wind farms consume abnormally high amounts of copper. That’s the main thing to know regarding investment-related contents. Of course, the whole concept is driven by politics. In investment sense, it boils down to enormous copper demand in foreseeable future.
These things are so costly to maintain. Totally not worth the tradeoff.
If thats true then why are they doing it?
lobbying as usual...stop making sense!
... Seriously? How uninformed are you?
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.