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Home/Diversification creates a €45bn opportunity for renewables in meeting France’s 50% nuclear target and emissions reduction by 2035

Diversification creates a €45bn opportunity for renewables in meeting France’s 50% nuclear target and emissions reduction by 2035

French Power Market Service

Following the decision by France’s Government to diversify its energy mix away from nuclear, the energy market is set for a period of unprecedented change and transformation. Aurora Energy Research has analysed the impacts of these proposed changes.

New research about the French power market and policy highlights significant potential for the accelerated growth of renewables in France as well as impacts on French generators and consumers through policy changes in the wider European energy markets.

Key findings include:

  • In November the French Government will release its Programmations Pluriannuelles de l’Energie (PPE), setting out the country’s ambitious plans to reduce its reliance on nuclear – the backbone of the power system since 1973
  • Keeping emissions in check whilst reducing nuclear output will require a 70% increase in renewables capacity by 2030 – representing a €45bn investment opportunity
  • An additional €10bn of subsidies will be required from the government by 2030 to unlock this investment
  • Wholesale power price volatility will increase due to rising renewables penetration, opening up opportunities for battery storage
  • Security of supply will be provided by a mix of interconnectors, batteries, and renewables, as nuclear and coal plants exit the system
  • The domestic generation market could shrink by €5bn, or 15%, if neighbouring countries decarbonise aggressively
View Press Release

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