EU Approves Lithuania’s €385m Renewable Energy Scheme

News | Renewable Energy

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The European Commission has approved a €385 million (£333m) scheme to support electricity production from renewable energy sources in Lithuania.

The government intends to introduce the new aid scheme in May for the installation of renewable sources such as wind, solar and hydropower.

It will support Lithuania’s national target of increasing its share of green energy to 38% by 2025.

The scheme, open to all renewable installations, will run until 1st July 2025 or until the goal is reached.

The projects benefitting from the scheme will receive support in the form of a premium, which will be set through a competitive bidding process for all types of installations, irrespective of the size and the renewable technology used.

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.”

Source: Energy Live News