Additional investments for priority areas
In the face of current challenges, we double our ambition by 2030 to produce the entire amount of electricity required by the state from renewable energy sources. Therefore, taking advantage of the supplement of the plan “New Generation Lithuania”, the implementation of the 1 gigawatt (#1gigavatolaisvei) project will be accelerated. This is a project that not only has the component of combating climate change, but also brings Lithuania closer to energy independence.
russia's war against Ukraine fundamentally disrupted the global energy system. As currently local electricity generation in Lithuania provides only about a third of the country's electricity needs, Lithuania is accelerating investments in electricity production from renewable sources. Therefore, a significant part of the plan "New Generation Lithuania" loans and grants from the State budget (more than EUR 550 million in loans and EUR 206 million in grants) is channelled to the energy sector, ensuring Lithuania's energy independence.
Funding for the development of renewable energy sources is planned to be allocated to three target groups: legal entities (businesses), renewable energy communities, especially those facing energy poverty, and municipalities and central government. About 90 % of these funds will be allocated to solar power plants, and there will also be an opportunity to invest in onshore wind energy production and, if necessary, purchase an energy storage facility.
The updated plan "New Generation Lithuania" foresees other additional investments for the renovation of buildings and the strengthening of the national cyber security and the purchase of clean transport.
Please note that on 14 May 2021, at the meeting of the Government ministers, a protocol resolution was adopted unanimously approving the submission of the plan "New Generation Lithuania" to the EC. On 30 June 2023, the Government approved the draft modification of the plan "New Generation Lithuania", which was submitted to the European Commission, and on 23 October 2023, the EC adopted a positive assessment regarding the supplementation of the Plan with the new investments.On 9 November, the Economic and Financial Affairs (ECOFIN) Council in Brussels endorsed the plan "New Generation Lithuania" supplemented with the new investments of EUR 1.7 billion.
Last updated: 06-12-2023
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