On Friday 21 April, the French authorities submitted a revised recovery plan which includes a ‘REPowerEU’ chapter designed to accelerate the energy transition and stimulate the development of a decarbonised industry.
Funded with €2.8 billion in grants, this chapter provides for measures in the following areas: decarbonisation of industry, energy renovation of private (MaPrimeRénov scheme) and public buildings, participation in the important project of common European interest (IPCEI) on hydrogen and energy renovation of public buildings.
According to Paris, the implementation of several key reforms – the renewable energy acceleration law, the energy sobriety plan, the creation of a Secretariat-General for Environmental Planning – will reinforce the impact of the planned investments.
France has already received more than €12 billion in EU grants out of a total of €40.25 billion (€37.45 billion from the initial recovery plan, €2.3 billion under the ‘REPowerEU’ chapter and €502 million from the ‘Brexit’ reserve) to finance its recovery plan. It does not intend to call on the loans to which it is entitled under the Next Generation EU Recovery Plan.
See the French recovery plan as revised: https://aeur.eu/f/6h4 (Original version in French by Mathieu Bion)