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Boost for French energy fund

A fund established in 2009 for investment in renewable heat sources is to double its spending to €420 million a year by 2017, the French government has announced.

The Fonds Chaleur, or heat fund, was established in 2009. According to the government press release announcing its upgrade, it has financed more than 3,200 projects using renewable heat sources since its creation, investing about €1.2 billion. Projects supported by the fund have spared the use of more than 1.5 million tonnes of oil.

The government is increasing the fund to help meet the country’s target of drawing 32 per cent of its energy from renewable sources by 2030.

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