Investor Presentaiton
32
Lithuania
A commitment to green energy sources.
Renewable energy supply remains a priority despite short-term energy market disruptions
• Estonia has a legal commitment to reach climate neutrality (net zero
emissions) by 2050
• As an intermediate target, the law requires that by 2030 renewable
energy accounts for at least 65% of gross domestic final energy
consumption
• Other intermediate targets relate to improvement of energy
efficiency and security
• The share of renewable energy has significantly increased in the
energy mix while greenhouse gas emissions have steadily decreased
• Extensive climate and energy policy measures are included in the
state budget strategy up to 2027, including EUR 5.6bn of EU grants
and other budgetary funding (within the 2021-2027 period)
• The government subsidizes the uptake of renewable electricity (wind
and solar) through reverse auctions, with the most recent one
concluded in August 2022 for 540 GWh a year, and the next one for
650 GWh a year under way (as of September 2023). Reverse auctions
for a total volume of at least 1 TWh are planned for 2024 and 2025
Share of energy from renewable sources in 2022 (%)
60
50
38.5
40
23.0
30
20
22 °
10
0
Finland
Albania
Latvia
Denmark
Montenegro
Source: Eurostat
Estonia
Portugal
Austria
Lithuania
Croatia
Serbia
Romania
Spain
Greece
Slovenia
European Union
Moldova
Georgia
Germany
France
Emissions of greenhouse gases in Estonia
25
Italy
Cyprus
Bulgaria
Kosovo
North Macedonia
Czechia
Slovakia
Energy poverty (2022)
17.5%
Inability to keep home adequately warm (% total homes)
Source: Eurostat
Euro area
9.7%
10
сл
5
7.1%
7.1%
3.4%
2.9%
2.6%
0
Slovakia
Latvia
Estonia
Czech Rep.
Slovenia
20
15
2013
2014
■Net emissions of greenhouse gases, million CO2-equivalent tonnes
■Emissions of greenhouse gases per capita, CO2-equivalent tonnes
Source: Statistics Estonia
2015
2016
2017
2018
2019
2020
2021
REPUBLIC OF ESTONIA
MINISTRY OF FINANCEView entire presentation