Advertisement
Canada markets open in 1 hour 5 minutes
  • S&P/TSX

    22,107.08
    +194.56 (+0.89%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CAD/USD

    0.7359
    -0.0013 (-0.18%)
     
  • CRUDE OIL

    82.57
    +1.22 (+1.50%)
     
  • Bitcoin CAD

    95,761.39
    +415.78 (+0.44%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,235.40
    +22.70 (+1.03%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,497.50
    -6.25 (-0.03%)
     
  • VOLATILITY

    13.02
    +0.24 (+1.88%)
     
  • FTSE

    7,952.37
    +20.39 (+0.26%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6818
    +0.0013 (+0.19%)
     

EU regulators clear 30.5 billion euro French renewable energy scheme

BRUSSELS (Reuters) - EU state aid regulators cleared on Tuesday a 30.5-billion-euro ($35.9 billion) French scheme for renewable energy production, saying it would help the bloc's goal of achieving climate neutrality by 2050.

The scheme is targeted at onshore operators of solar, onshore wind and hydroelectric installations, who will get a premium on top of the electricity market price.

The project is open until 2026 and aid can be paid out up to 20 years after the new renewable installation is connected to the grid.

"This aid measure will stimulate development of key renewable energy sources, and support a transition to an environmentally sustainable energy supply, in line with the EU Green Deal objectives," European Commission Executive Vice President Margrethe Vestager said in a statement.

($1 = 0.8489 euros)

(Reporting by Foo Yun Chee)