Large industrial companies invest in renewable energy

The call for applications for manufacturing companies participating in the European Union (EU) emissions trading system and wishing to install solar or wind power plants has ended.

16 companies in Lithuania are interested in investing in renewable energy resources. They are asking for over 13 million euros of the funds of the Modernization Fund, while 10 million was allocated for the invitation.

“Interest in the possibility of producing the necessary electricity by ourselves is not abating. Investments in energy efficiency can become a complex solution for the competitiveness of large manufacturing companies not only today, but also in the long term”

says Agnė Markauskienė, head of the APVA Modernization Fund project group.

Manufacturing industry companies participating in the EU emissions trading system, of which there are about two dozen in Lithuania, plan to install more than 63 MW of solar power plants. The maximum amount for the implementation of one project can reach up to 2.5 million EUR, and the subsidy for the purchase and installation of a 1 kW solar power plant is EUR 369.00/kW without VAT.

The European Union Emissions Trading System (EU ETS) is a cap-and-trade system for reducing greenhouse gas emissions in the European Union. It covers about 45% of the EU’s greenhouse gas emissions, including those from the manufacturing sector.

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