Macron announces 30 billion euro plan to invest in green hydrogen, sma…

Paris: France wants to be a leader in green hydrogen by 2030 and build new, smaller nuclear reactors as part of a 30 billion euro ($47 billion) investment plan aimed at fostering industrial champions and innovation, President Emmanuel Macron said on Tuesday.

Speaking six months before the presidential election, Macron said the road map, dubbed “France 2030”, would ensure the country massively decarbonises its industry and brings innovation and production in meaningful areas closer to home, from cars and biomedicine to energy.

French President Emmanuel Macron speaks during the presentation of “France 2030” investment plan at the Elysee Palace.Credit:AP

Setting out some of the plan’s targets, Macron said France would by 2030 build a low-carbon plane, a small modular reactor in addition as two megafactories for the production of green hydrogen. It would also produce large numbers of electric vehicles.

“We must wage the battle of innovation and industrialisation at the same time,” Macron told a group of entrepreneurs, adding: “We need a country that produces more.”

Macron said the plan will give a meaningful role to small, nimble start-ups in building France’s industrial future alongside well-established giants.

Pointing to a shortage of confront masks when the COVID-19 pandemic first erupted, Macron said the crisis had shown, on one side, a real vulnerability for all, and, on the other side, how crucial innovation and industrial production close to home are.

“We must rebuild the framework for productive independence for France and Europe,” he said, adding that innovation would be meaningful amid global competition for leadership and access to raw materials. “The winner takes it all,” he additional.

Other 2030 objectives include investing in semi-conductors and beefing up innovation in the French health sector, including biomedicine.

The 30 billion euros come in addition to a 100-billion-euro recovery plan announced last year to help France weather the coronavirus pandemic, a large proportion of which went to promoting greener energy policies.

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