The EU Commission has given the stamp of approval for a French aid scheme of EUR 2.1bn targeting domestic offshore wind power generation, reports Bloomberg News.

”The measure adopted today enables France to step up its renewable offshore production capacities, while limiting possible distortions of competition in the Single Market,” says EU Commissioner for Competition Margrethe Vestager.

According to the European Commission, the French plan facilitates development of certain economic activities, especially renewable electricity generation from floating offshore wind technology.

This plan is equipped with what the Commission terms an ”incentive effect” given that the beneficiary would not carry out investments in floating offshore wind projects without public support.

The plan has ”a limited impact on competition and trade within the EU. In particular, it is necessary and appropriate to promote the production of renewable electricity,” the EU Commission reports as cited by Bloomberg News.