The scheme will provide funding to all renewable installations in the form of a premium set through a competitive bidding process.
The EC approved, as compatible with EU State Aid rules, a €385 million support scheme for electricity production from renewable sources in Lithuania. In May, the country will introduce a scheme supporting renewable energy installations to help Lithuania reach its 38% renewable target by 2025. The scheme will run until July 1, 2025 or until the target has been reached, if it has not been reached by this date.
Benefitting installations will receive support in the form of a premium, set through a competitive bidding process, irrespective of size and technology. The final premium will not be set at a level greater than the reference price and the average production costs of the most cost-efficient renewable energy technology in in the country. Both prices are set by the Lithuanian national energy regulator for each auction.