Co-operation on Renewables

The French cities of Paris, Rouen and Le Havre recently pooled their resources and approved the creation of Axe Seine Energies Renouvelables, a local mixed-economy company, in early 2022. The company aims to develop 50 renewable energy projects by 2030, including biomass, solar PV, and wind, in addition to heat recovery and hydrogen projects along the Seine River. An important aspect of this initiative is that it will facilitate the ability to pool human and financial resources around renewable energy projects.

The 50 projects potentially represent an installed renewable capacity of 250 MW. The mayors of the three cities had indicated in October 2021 the desire to transform the Seine into the first valley of decarbonisation in France. The initiative is seen as a keen step towards this goal. To fund the partnership, Le Havre and Rouen each will finance one-quarter of the investment capital (at USD 2.2 million each), a French public sector financial institution (the Caisse des dépôts et consignations) will finance another quarter, and the remaining funds will come from the City of Paris and the Greater Paris Metropolis, which will add USD 1.1 million each.

Source: See endnote 85 in chapter 07.

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