Luxembourg and Lithuania to continue cooperating in the field of renewable energy

Date

2020 09 23

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Minister of Energy Žygimantas Vaičiūnas and Luxembourg’s Minister for Energy Claude Turmes signed a Memorandum of Understanding on cooperation between the two countries in the field of renewable energy.

The Memorandum of Understanding provides opportunities for cooperation in the statistical transfers of renewable energy sources (RES) after 2021.

“Lithuania and Luxembourg were the first countries in the EU to prove that we can successfully share progress in renewable energy to achieve national and European goals. Cooperation like this is important and meaningful, both for the entire EU, which is setting increasingly ambitious climate targets, and for the countries themselves. Lithuania is investing the funds received into the further development of green energy, and especially small energy, which is the closest to each consumer,” says Minister of Energy Žygimantas Vaičiūnas.

In 2017, Lithuania and Luxembourg signed an agreement on the partial statistical transfer of excess RES quotas. By 2020, Luxembourg acquired RES statistics from Lithuania for more than EUR 10 million, and plans to continue acquiring RES statistics in 2021.

The Memorandum of Understanding states that one of the areas where Lithuania and Luxembourg plan to cooperate in the implementation of RES statistical transfers is joint offshore wind projects. Cross-border offshore wind projects provide additional opportunities to fund part of the installation of important and necessary infrastructure from EU financial instruments, which are currently increasing as a result of the implementation of the European Green Deal.

“Cooperation in offshore wind energy is yet another area that we have agreed to assess the potential of. In this way, we will show new practices to other EU countries as well,” says the Minister of Energy.

Under EU law, countries that have achieved their European targets for renewable energy can cooperate with other countries that, due to various circumstances, such as their geographical location or limited natural resources, have less potential to develop renewable energy. Leading countries in the development of RES can transfer part of their achievements to other countries. This is called statistical energy transfer.

Lithuania, which is rapidly developing green energy, achieved its EU goals for 2020 back in 2014. In 2019, renewable energy accounted for approximately 25.5 per cent of final energy consumption in Lithuania.