Lithuania’s government has outlined plans to hold renewable energy auctions between 2020 and 2022 to ensure the country meets its clean energy targets.
Between 2020 and 2022, Lithuania will procure 0.7 TWh of renewable generation annually. Added to the planned 2019 auction for 0.3 TWh, total generation procured by 2022 will amount to 2.4 TWh.
The annual auctions will be technology neutral, according to the Lithuanian energy ministry. Renewable energy developers will compete for a floating feed-in premeium (FiP) support mechanism.
“Lithuania has set ambitious targets for the development of renewable energy and a clear plan for achieving them ... The approved auction schedule will allow investors to evaluate their options and prepare properly for all auctions,” said Energy Minister Zygimantas Vaiciunas in a statement.
Lithuania has set a target of 38 per cent share of renewable energy in final consumption by 2025, equivalent to around 5 TWh. In 2017, the share of renewable energy stood at nearly 26 per cent, making Lithuania one of the few EU member states to exceed its 2020 target, Eurostat data shows.
In the 2019 auction, due to take place in September, the maximum FiP price has been set at €48.93/MWh, according to energy regulator VERT.