Energy, EU – Baltic States, Good for Business, Investments, Lithuania
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Thursday, 28.03.2024, 18:04
Lithuania to invest EUR 8 mln in small-scale green energy
"Luxembourg and Lithuania were the first EU member
states to have signed such an agreement," Energy Minister Zygimantas Vaiciunas said in a press
release on Monday.
"Now we are putting it in practice and it will
demonstrate the successful sharing of progress in renewable energy," he
added.
Under the agreement signed in October 2017, Lithuania
is to transfer a part of its statistical excess amount of energy from renewable
sources in 2018 to 2020 for at least 10 mln euros in total. In the
first stage, Lithuania is transferring 550 gigawatt-hours.
"Our agreement is concretized now with very interesting
projects to develop the renewables sector in Lithuania," Luxembourg's
Energy and Spatial Planning Minister Claude Turmes was quoted as saying in
the press release.
Lithuania's national energy strategy sets the target of
increasing the share of renewable energy in the country's total energy
balance to 30 % by 2020 and 100 % in 2050.