France to scrap subsidies for coal technology exports

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Export credits used for coal technology made by turbine maker Alstom 'should be used to invest in renewable energy', said ecology minister.

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The French government is to scrap export credits used for coal technology made by turbine maker Alstom, ecology minister Ségolène Royal said on Thursday, reports The Economic Times.

President François Hollande pledged last year to eliminate coal export credits, and his staff said earlier this week that the situation would be clarified before Paris hosts an international climate change conference at the end of the year.

"The president has been very clear, the aid for Alstom will be scrappped," Royal said on France Info radio.

"What I've offered ... to Alstom is that the state aid that had been granted for coal should be used to invest in renewable energy," she said.