European Commission approves �2.6 billion scheme to back Estonia’s renewable energy projects

The European Commission has approved a �2.6 billion scheme in Estonia to support renewable offshore wind energy.

offshore wind farms in Estonia The measure will aid in the construction and operation of offshore wind farms (Photo: AdobeStock)

The measure will aid in the construction and operation of offshore wind farms for electricity production in areas specified by the Estonian Maritime Spatial Plan.

The scheme has been approved under the State Aid Temporary Crisis and Transition Framework (TCTF), which was adopted by the Commission in March 2023.

The aid will be granted through a transparent and non-discriminatory competitive bidding process, which is to be completed by the end of December 2025. It will take the form of a variable payment under two-way contracts for difference (CfD) that will last for 20 years.

Executive vice-president for clean, just and competitive transition Teresa Ribera said: “This �2.6bn scheme will enable Estonia to support the development of offshore wind as a way to reduce its dependency on fossil fuels and foster the energy transition. At the same time, it limits undue distortions of competition in line with State aid rules.�

±ØÓ®ÌåÓý

STAY CONNECTED

Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

CONNECT WITH THE TEAM
Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Editor, Editorial, UK â€� Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]