(Bloomberg) -- France will target to double the pace at which it adds new solar and biogas production capacity for the rest of the decade to reach its 2030 emission-reduction targets, Energy Transition Minister Agnes Pannier-Runacher said.
The country also aims to launch a “major” tender for offshore wind projects around the end of 2024 to speed up the development of that energy source, Pannier-Runacher said at a press briefing Tuesday. The annual pace for onshore wind projects should remain in line with 2022 levels, she said.
“Our targets for renewables are a bit more cautious than what the sector would aim for,” the minister said. “The goal is to revise them up if we show our ability to stick to our targets.”
France will also have to increase investment in battery and hydro-pumped storage systems, as well as tools that help shift power consumption outside peak demand, she said. The country will prepare to build six nuclear reactors, create programs for so-called small and innovative modular reactors, and maintain its sovereignty on the entire nuclear fuel cycle, she said.
The energy targets and France’s plan to curb electricity prices will be detailed in an energy law and decrees that will be presented before the end of the year.
To fight global warming, the French government aims to cut the country’s emissions by about one-third between 2022 and the end of the decade — in line with European Union targets for a 55% reduction from 1990 levels.
Governments across Europe are searching for ways to maintain ambitious goals for fighting climate change and its devastating effects while supporting households and businesses that are already squeezed by rising energy, food and equipment costs.
Read more: France Plans to Curb Power Prices to Boost Green Investment
The country will convert its remaining two coal-fired power plants to biomass by the start of 2027, President Emmanuel Macron said Sunday.
France will introduce a new incentive next year — based on environmental criteria — for the purchase of electric cars that should benefit auto manufacturers in France and Europe, Pannier-Runacher said.
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