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Milton Financials: France set to receive offshore wind farm tenders.

11-09-2010 01:41 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Milton Financials

Government official says France is ready to ask for proposals to develop offshore wind farms to increase the country’s renewable energy output.

France’s junior ecology minister Chantal Jouanno has told Milton Financials’ sources that the European nation is ready to consider proposals to develop offshore wind farms and the initial round of requests would be for proposals to provide three gigawatts (GW) of capacity as the country seeks to develop and increase experience in offshore wind technology.

"It will be this week or next, it is imminent," Jouanno told reporters, adding that a second round of tender requests would also be launched for another series of offshore wind farms of the same size at a later stage to help toward a target of 6GW production by 2020.

"The investment for the first 3 GW of capacity could amount to €10 billion ($14 billion)," Milton Financials believes a source at the ecology ministry said.

"About 10 locations have been identified in the English Channel, the Atlantic Ocean and the Mediterranean Sea. The first offshore wind farms should start operations in 2015," the ministry spokesman said.

Turbine manufacturers such as Denmark’s Vestas Wind Systems, Germany’s Repower and the French firm Alstom are expected to be among the companies submitting tenders to develop the wind farms while a number of Frances leading utilities including EDF, GDF Suez and EDF Energies Nouvelles may all submit proposals to operate the projects, Milton Financials was told.

Milton Financials is a dedicated, independent broker providing the market insight and investment advice that corporate, institutional and private clients trust.

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