The Culture and Market on Wind Project Financing. The French Experience.

Energy has become a top priority for EU policy makers. Until now, a reliable energy supply has been taken for granted in modern society, but the security of this supply is currently under threat.
Firstly, there is a mounting risk of climate change caused by the industrial scale combustion of fossil fuels. In addition, and equally alarming, is the depletion of a once seemingly abundant supply of fossil fuels. Satisfying our energy needs over the coming decades will be a big challenge. For a region that currently imports 56% of its energy – and is on track to reach 70% in the next 20 to 30 years – the challenge is big. Our own fossil fuel resources are running out fast, fuel prices are increasing and the environment is suffering as result of our current energy supply structure. In 2030 the EU will be importing 84% of its gas, 59% of its coal and 94% of its oil.
The answer to the energy supply problem is now becoming increasingly clear: a transition is required from an energy supply dependent on fossil fuel combustion to a cleaner, smarter alternative, based on natural renewable resources and indigenous supply.
The first step of this transition was completed in December 2008 when the European Union agreed the Renewable Energy Directive which establishes the rules for achieving 20% of EU energy consumption from renewable sources by 2020.
In practice, the directive establishes the mandatory targets for renewable energy by 2020 for each EU Member State.
By 2020, wind energy is expected to have overtaken hydropower as the EU’s largest source of renewable electricity.