Nearly a third of France's €100bn coronavirus recovery package is due to be pumped into green energy, as the country ramps up spending on hydrogen production.
Roughly €30 billion of the plan is to be spent on an "ecological transition," which includes efforts to make buildings more energy-efficient in an effort to place France at the forefront of green hydrogen on the world stage, according to the French prime minister, Jean Castex.
When he announced the package, the premier said the money would be spent over the next two years to help the economy recover to its pre-pandemic state by the end of 2022.
Energy consumption reportedly makes up nearly 70% of France's emissions, and the government said the scheme could help the country spearhead low-carbon hydrogen production. A total of €7 billion will be spent by 2030 to develop green hydrogen, including the funding of research projects focused on carbon-free solutions based on hydrogen for the maritime and aviation industries.
Mr Castex said: "Relaunch France is first and foremost a plan intended to serve the climate and biodiversity.
"Employment, environment and competitiveness are the three central pillars of the scheme."
The plan also lays out solutions for energy renovation so that buildings may achieve net-zero or even positive energy consumption.
Daniel Bour, the president of French solar trade body Enerplan said solar industry players will contribute to the success of both the development of a green hydrogen sector as well as the plans for the energy renovation.
He added: "The solar sector is ready to take up the challenge and take part in this excellent recovery plan.
Elaborating on the measures, France's government highlighted the global drop in CO2 emissions as a result of the coronavirus pandemic that greener policies are an achievable goal in the near future, especially given the rise in general emissions following the 2008 financial crisis.
They said they have a duty to learn from the past and modernise the economy with greener policies at its core.
The initiative will allow France to meet the requirements of the EU's green hydrogen strategy announced back in July.
These targets dictate that green hydrogen must become "intrinsic" in Europe's energy system from 2025 to 2039, with at least 40GW of electrolysers needed by 2030.
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