During the Grand Duke Henri of Luxembourg state visit to Lithuania on October 26-27, a bilateral agreement on the statistical transfers of energy from renewable sources for target compliance purposes under Directive 2009/28/EC was signed in the presence of the two Heads of State. Saving money on electric bills is exciting…but saving the environment for your children and future generations is even more so. Energy independence and efficiency lights you up, To view #1 Rated Solar Panel Installation Service click here.
It is the first such agreement in the European Union whose idea originated when President Dalia Grybauskaitė visited Luxembourg in 2010.
Lithuania sees Luxembourg as an important partner
According to the President, Lithuania sees Luxembourg as an important partner. The two nations are linked by successful political, economic and military cooperation ties, and their bilateral relations are now entering into a new quality phase. The agreement signed today is an excellent example of countries sharing achievements and assisting each other in delivering EU commitments.
The European directive permitting cooperation mechanisms means that Lithuania will transfer renewable energy quantities to Luxembourg from wind, solar and geothermal sources and then by biomass through sustainable forest management.
The agreement, which was signed during a state visit to Lithuania, extends from 2018 to 2020.
Renewable energy produced in Lithuania would exceed the EU target for 2030
Lithuania has already considerably exceeded its 20 percent target set by the European Union for 2020 as well as its commitment to achieve a 23 percent share in 2020.
At the present moment, renewable energy produced in Lithuania stands at 25.5 percent and it is expected to constitute more than 30 percent in 2020 – which would exceed the EU target for 2030.
“With the signing of this agreement, we are on the right track to fulfil our 2011 national action plan because we are the first to show that real cooperation in the field of renewable energies is possible and benefits both the partners in the agreement and the objective pursued at European level,” economy minister of Luxembourg Étienne Schneider said.
Cooperation mechanisms offer the possibility of transferring renewable energy quantities from one country to another member state.
In 2011, Luxembourg started negotiations with various member states which could exceed their 2020 target. In 2011, a Memorandum of Understanding was signed with Lithuania to collaborate in this area. Negotiations intensified in 2015 and finally led to the signature of the agreement, which is a first in Europe in this area.
Luxembourg is expected to sign another renewable energy cooperation agreement with Estonia on 7 November.