19.4 C

Lithuania to invest 242m euros in RE under the support of the EU

The European Commission approved on Friday a recovery and resilience plan of 2.2 billion euros in Lithuania, including plans to reform and invest in renewable energy and energy storage.

38% of the funding will be used to support green transformation measures. Lithuania intends to invest EUR 242 million in onshore and offshore wind and solar power, and the establishment of public and private energy storage systems.

In addition, Lithuania plans to invest in another 300MW of solar and wind capacity and 200MW of power storage capacity.

Lithuania also plans to use 341 million euros to eliminate the most polluted vehicles and increase the use of renewable energy in transportation.

After the Council adopted the funding proposal, a grant of 2.2 billion euros will begin to be paid to Lithuania and will be completed in four weeks.

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