Estonia to help Luxembourg meet 2020 renewables goal - report

Estonian renewable energy will make it possible for Luxembourg to meet its 2020 renewable energy target under a proposed agreement between the two countries.

The deal calls for Estonia to sell excess renewable energy quotas at EUR 15 (USD 17.4) per MWh for a total of EUR 10.5 million to the Grand Duchy, the Baltic News Service reported on Tuesday. Sales will be carried out between 2018 and 2020, with 300 GWh of transfers planned for next year and 400 GWh for 2020.

According to the report, the amount may be later increased in case an additional agreement is reached.

In Luxembourg the share of renewables in gross final energy consumption in 2015 stood at 5%, while its 2020 target calls for 11%, prompting the country to resort to cooperation mechanisms on statistical transfer as part of its national renewable energy action plan. Meanwhile, the share of renewables in Estonia stood at 28.6%, higher than the country’s target of 25% for 2020. In fact, the Baltic country met its target as early as 2011 and the share keeps growing, according to figures by Eurostat.

Last month, Luxembourg also signed a statistical transfer agreement with Lithuania for 700 GWh, or more if needed, between 2018 and 2020.

(EUR 1.0 = USD 1.161)

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