France to eliminate coal export credits ahead of COP21
Issued on: Modified:
The French government is to scrap export credits used for coal technology made by turbine maker Alstom before Paris hosts an international climate change conference (COP21) at the end of the year.
"The president has been very clear, the aid for Alstom will be scrapped," Environment minister Ségolène Royal said on France Info radio on Thursday.
President François Hollande pledged last year to eliminate coal credits.
"What I've offered to Alstom is that the state aid that had been granted for coal should be used to invest in renewable," Royal added.
Alstom got the green light from EU competition authorities on Tuesday to sell its gas turbine assets to American General Electric after GE agreed to sell some maintenance services of the French company's turbine assets to Italian rival Ansaldo Energia.
Daily news briefReceive essential international news every morningSubscribe