BIG FRENCH $$$ INTO OCEAN WIND

EDF, Dong, Alstom Form Pact for $14 Billion French Wind Plan
Sally Bakewell, July 11, 2011 (Bloomberg News)

"EDF Energies Nouvelles SA (EEN), Dong Energy A/S and Alstom SA (ALO) agreed to join in the 10 billion-euro ($14 billion) French offshore wind plan aimed at boosting the nation’s clean energy sources and domestic industry. [Energy companies including GDF Suez (GSZ) SA, Vinci SA (DG), Iberdrola Renovables SA (IBR) and Areva SA also say they plan to work on the project.]

"The companies…[will] pool expertise and investment alongside Nass&Wind Offshore, the French developer of wind at sea, Poweo ENR, a unit of renewables company Poweo and Wpd Offshore, an arm of the German wind company…"

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"France gets…[the bulk] of its electricity from atomic plants…and is seeking to boost renewable energy such as solar and wind. The country, which has no offshore wind power now, proposes to install 6,000 megawatts, or about 1,200 wind turbines, by 2020…

"…[T]he government [just] began accepting proposals for the plan to build five the projects with a combined capacity of 3 gigawatts. It’s seeking to generate 23 percent
of its energy from renewable sources by 2020. Energy Minister Eric Besson said the program would support more than 10,000 jobs…"