French government plans to invest $23.5 billion in an energy transition plan

The French government has planned to invest $23.5 billion in an energy transition plan, out of which $10.58 billion will be spent towards improved energy efficiency, $8.23 billion for renewables and $4.7 billion to precipitate the switch to cleaner vehicles. Additionally, the government will invest $8.31 billion to boost the growth of renewable energy by 70 per cent over the next five years. These investments will help in research and innovation to combat climate change, speed up France’s transition to low carbon and achieve greater energy efficiency. The environment-related investments are a part of the $67 billion investment plan to run from 2018 to 2022.