The European Commission has approved, under EU State aid rules, the modification of the existing aid scheme to support renewable power generation and efficient co-generation in Estonia, considering that this scheme will help the country reach its carbon neutrality target by 2050 without distorting competition. The new modified scheme, with a budget of around €450m, replaces the existing one that is due to expire at the end of 2020. It will be applicable for 10 years from the date of this decision, and will award support to renewable installations in the form of a premium on top of the electricity market price. The premium will be set through a competitive bidding process and cannot be higher than the difference between the average production cost for each renewable technology and the electricity market price. Tenders will be open for new renewable power installations and for existing thermal power plants switching to biofuel.
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