Norway and Sweden have decided to increase their target for renewable electricity production by 2020, raising their total renewable power generation to 28.4 TWh/year by 2020 (+2 TWh/year compared to the previous target). This new target will be effective on 1 January 2016, pending legislative approval in both countries.
In January 2012 Sweden and Norway started to exchange green certificates on a common market: energy suppliers are allowed to purchase green certificates in the two countries to meet their national requirements. The two countries had set the common goal to increase renewable electricity production through the certificate system by 26.4 TWh over 2012-2020. Since 2012, renewable power production has increased by 6.2 TWh, with Sweden accounting for 5.3 TWh of that amount.
Under the new agreement, Sweden will pay for the cost of the addition to the target and will remove a tax relief for wind power generators.
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