A revolution in northern France

Panel: 5. Business models and financing: established practice and innovative approaches

Authors:
Antoine Bonduelle, E&E Consultant SARL, France

Abstract

Northern France is a region of industries such as glass, steel, sugar, textile or paper, with later additions such as automobile, agro-industries and chemicals. These “first and second industrial revolution” industries have declined for decades. Coal mines closed, but their architecture still dominate many city landscapes. As in the nearby Wallonia or Ruhr regions, a revival is sought.

A master plan inspired by the futurologist Jeremy Rifkin and his books on hydrogen and the energy transition, mixed with local prospective work from local institutions and NGOs. Industry bosses, politicians, regional research institutions and the chambers of commerce have jumped into the vision of a 100% renewable and efficient future, way beyond the traditional coal and nuclear sources still dominant.

Hundreds of initiatives have flourished between industries, universities, housing institutions and cities: Smart grids, energy efficient housing, district heating, electric vehicles, solar, wind and biogas production schemes… The movement to a more decentralized approach to energy is remarkably consensual in a country more used to massive nuclear production than to a shared governance of energy. The “Third Revolution” may thus succeed in the most energy intensive region of France, where a new law mandates the halving of energy consumption by 2050.

To fund these projects, specific funds have been launched, and EU development funds (FEDER) include dedicated lines (225 M€). New financing tools have also been launched, such as crowdfunding platforms, but also a more traditional a savings account open to all inhabitants. By the end of last year after 8 month, 900 accounts had been opened for about 1.2 M€. Moreover, local banks and institutions have gathered 50 M€ to be used as equity.