EU Commission clears 200 million euros in French renewable energy state aid

Reuters
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 20, 2018. Picture taken June 20, 2018. REUTERS/Yves Herman

BRUSSELS (Reuters) - The European Union's competition watchdog approved on Monday 200 million euros worth of state aid to support electricity production from renewable sources for self-consumption in France until 2020.

The European Commission said the French government's support programme would contribute to add 490 megawatts of new capacity and was available for small installations. The selected installations would receive a premium on top of the market price over 10 years, it said.

"The scheme will stimulate competition between renewable energy sources for self-suppliers and will further increase the share of renewables in France's energy mix," said Margrethe Vestager, the bloc's top competition official.

(Writing by Gabriela Baczynska; editing by Francesco Guarascio)