France is planning to award a total of USD 1.75 billion in grants and loans as support for renewable energy and biofuel-chemistry projects by 2014. This is one of several sustainable development programs to be launched by the Environmental and Energy Management Agency.

The renewable energy stimulus program will allocate about EUR 450 million in subsidies, and another 900 million for loans. Technologies to be supported include solar, wind, marine energy, geothermal, carbon capture and storage (CCGS) and chemistry for producing biofuels. Financial support will focus on three main phases – research demo projects, pre-commercial phase experiments, and testing platforms for new technologies.

During 2010, EUR 210 million will be awarded, and then 290 million every year after that, until 2014. The agency will try to attract EUR 2 billion of private investment funding over time.

Other funding projects include a EUR 1 billion sustainable tranportation development plan and a EUR 250 million smart grid technology development plan.

[source: Wikinvest]