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Time Is Money

Jan 8, 2024 • 4 min read

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France’s Nuclear Energy
Louisiana’s Offshore Wind Farms

France’s Nuclear Energy:

France is set to expand its nuclear energy capacity, with plans to build eight new nuclear reactors. This development comes in addition to six European Pressurised Reactors (EPRs) previously announced by President Emmanuel Macron. Energy Minister Agnes Pannier-Runacher stated that this expansion is crucial for France to achieve its carbon reduction targets. A forthcoming draft law will formally include these additional reactors, shifting them from a previously considered "option" to a definitive plan.
Despite this focus on nuclear power, the upcoming legislation does not specify targets for renewable energy generation by 2030, maintaining a stance of technological neutrality. France's strategy is influenced by its successful history with nuclear energy, which has been a major factor in the country's low greenhouse gas emissions within the EU. However, the existing nuclear fleet, dating back to the 1970s, has faced challenges, including the need for extensive repairs, highlighting the aging infrastructure's limitations.
The move to build more reactors is part of France's broader goal to reduce fossil fuel reliance from over 60% currently to 40% by 2035. This reduction requires an additional energy capacity of about 13 gigawatts, equivalent to eight EPR reactors. However, the journey to expand nuclear power has not been without setbacks. The state energy firm EDF's experiences with next-generation EPRs have been marked by significant construction delays and cost overruns. Despite these hurdles, France remains committed to nuclear power and its development.

Louisiana’s Offshore Wind Farms:

Louisiana is initiating its first two offshore wind farm projects, Cajun Wind and Diamond Offshore Wind. Governor John Bel Edwards and the state’s Department of Natural Resources have already given their approval to these ventures. Cajun Wind is being developed by Vestas Wind Systems through its North American branch, Steelhead Americas, while Mitsubishi is behind the Diamond Offshore Wind project.
Governor Edwards highlighted Louisiana's longstanding role in energy production and sees offshore wind energy as a vital addition to the state's energy portfolio, with potential economic benefits. While the specifics regarding the size and energy output of these two wind farms are not yet disclosed, Louisiana has set an ambitious target to install five gigawatts of offshore wind capacity by 2035. This move is significant for a state deeply influenced by the oil and gas.
Despite these developments, the U.S. remains behind China and many European nations in wind energy capacity and production. The country's transition from coal to cleaner energy sources like wind and solar has been gradual, often replaced by methane. However, there are signs of progress, like a major wind farm project on the East Coast, set to power nearly 400,000 homes, moving forward despite opposition from the fossil fuel industry. This shift indicates a growing momentum in the U.S. towards embracing renewable energy sources.

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