Hollande declares end of export credits for coal

President of France, Francois Hollande has told an environmental conference that the government is ending its support for companies who develop coal-fired power projects abroad.

His statement contradicts European Union policy on the subject, which was leaked in July.
Speaking at the annual environmental conference he said, "Eventually, subsidies to all fossil fuels should be phased out. We are eliminating all export credits in the support that we give to developing countries whenever coal is used."

Hollande’s comments run contrary to the recently leaked EU policy paper.

While Brussels plans to phase out subsidies for domestic coal plants by 2018, the paper prepared by officials from the European Commission trade department recommended that export credits, or preferential loans to help cover exports costs, should be continued for the most modern coal plant technology.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...