Offshore wind developers and equipment suppliers are bracing for a slowdown in business in France where a political crisis has stalled changes to the country's energy framework and government tenders.The threat of a further hit
Offshore wind developers and equipment suppliers are bracing for a slowdown in business in France where a political crisis has stalled changes to the country's energy framework and government tenders.
The threat of a further hit to France's economy comes after data released on Friday shows business activity declined faster than expected in October.
President Emmanuel Macron has churned through six prime ministers in two years as a fractured legislature struggles to agree on a belt-tightening budget. It has also failed to approve a long-delayed energy bill, known as the PPE3, that outlines future energy needs from 2026.
Europe's second largest economy generates most of its power from nuclear energy with only 3 gigawatts (GW) of offshore wind power installed or in development, far behind Britain's 16 GW in operation. However, the government has said it plans to grow capacity fourfold through new tenders that are now a year late.
The U.S. market has also come to a stop after President Donald Trump revoked projects and stopped new developments.
A tender for a 1 GW wind farm off France's west coast last month failed to attract any bidders, partly due to the complexity of the project site, but also due
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