France announces national funding for renewable sector

The French government has announced its allocation of funds for the development of the renewable energy sector in the country for 2019-20. The total spending on renewable energy projects, mostly solar and wind, is estimated to be Euro 7.3 billion, which is only about 1.3 times the funds allocated for the current year. In the draft budget, France has retained its plans for an increase in the carbon tax on transport and heating fossil fuels. This will increase to Euro 55 per tonne of CO2 in 2019 from Euro 44.6 per tonne in 2018.

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