Lithuania and Luxembourg signed their first ever cooperation agreement on the transfer of renewable energy, the European Commission (EC) announced on Thursday.
The agreement will help Luxembourg achieve its national renewable energy target for 2020 by receiving a statistical transfer of a specified amount of renewable energy produced in Lithuania.
Lithuania has already reached its national renewable energy target for 2020 in 2015 and aims to further develop renewable energy in its economy. Its national renewable energy target is 23 percent of total energy consumption. In 2015, the country achieved a share of 25.75 percent of renewable energy in its gross final energy consumption.
The agreement stipulates that Lithuania will transfer a specified amount between 2018 and 2020 to help Luxembourg fulfill its 2020 national renewable energy target.
"This agreement shows that these cooperation mechanisms give EU Member States greater flexibility to reach their renewable energy targets, providing them with a useful tool to jointly develop renewable energy potential in a mutually advantageous way," the EC noted.
In this way, countries with more cost-effective and abundant potential in renewable energy can help other countries reach their national targets, as well as help the EU as a whole achieve the 20 percent renewable energy target in 2020, it added.
Luxembourg's national renewable energy target is 11 percent. In 2015, the country achieved a 5 percent renewable energy share in its gross final energy consumption.
By Ebru Sengul
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