The European Commission has approved a €385 million renewable energy scheme to support renewables generation in Lithuania.
The Lithuanian government plans introduce a new scheme in May which will provide assistance for the installation of renewable power sources such as wind, solar and hydropower in the country, and will support Lithuania’s goal to have 38% of all generation sourced from renewables by 2025.
The new scheme will run until the 1st of July that year, 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 which 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.”