For the development of green energy – three auctions by 2022

Date

2019 10 10

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SP Liepyne 1.JPG

The government has approved the renewable energy auction schedule for 2020–2022. These auctions will ensure the further development of renewable energy and local power generation in Lithuania.

Three auctions will be held in 2020–2022 – one per year. During each auction, 0.7 terawatt hours (TWh) of electricity are planned to be allocated. The auctions will take place on 29 May 2020, 6 April 2021, and 19 April 2022.

“Lithuania will increase the production of green and clean local electricity. This schedule will ensure that those planning to invest in renewable energy in Lithuania will be able to properly prepare for the auctions. At the auctions, we are expecting the highest possible competition and the lowest possible prices,” says Minister of Energy Žygimantas Vaičiūnas.

With the distribution of the total amount of electricity projected, Lithuania would achieve the target set in the National Energy Independence Strategy of at least 38 per cent by 2025. Electricity consumed in Lithuania will be produced from RES.

It is planned that by 2025, power plants using RES will produce up to 5 TWh of electricity, and that will allow for a 30 per cent reduction in the need for electricity imports.

The first auction for the development of renewable energy was announced by the National Energy Regulatory Council on 2 September. In addition to this, there will be three more auctions in 2020–2022.

Based on European best practice, Lithuania is, for the first time, organising technology-neutral auctions which are open to all RES technologies, such as sun, wind, biomass, biogas and others.

According to the European Commission, Lithuania – together with Denmark, Estonia, Spain and Portugal – is among the five most ambitious EU countries in terms of 2030 renewable energy targets.