EU approves €385 million renewable energy scheme for Lithuania

The European Commission has approved a €385 million (US$429.7 million) renewable energy scheme to support renewables generation in Lithuania, including hydroelectric power.

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The European Commission has approved a €385 million (US$429.7 million) renewable energy scheme to support renewables generation in Lithuania, including hydroelectric power.

The Lithuanian government plans introduce a new scheme in May that will provide assistance for the installation of renewable power sources such as wind, solar and hydropower and will support Lithuania’s goal to have 38% of all generation sourced from renewables by 2025.

The new scheme will run until July 1, 2025, or until the 38% goal has been reached, and is open to all renewables installations.

Those participating in the scheme will benefit from a new premium, to be set through a competitive bidding process, for all types of installations. The premium will be applicable regardless of the size of the installation or the renewables technology implemented.

Commissioner Margrethe Vestager, in charge of competition policy, said: “The scheme will contribute to Lithuania’s transition to low carbon and environmentally friendly sustainable energy supply, in line with the EU environmental objectives and our state aid rules.”

This article was first published on Smart Energy International and was reprinted with permission.

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