The Swedish and Norwegian governments agreed to extend a joint renewable energies subsidy scheme up to 2030. Norway and Sweden have had a common green certificate market since 2012, which will run until end-2021, although certificates can be issued until 31 December 2035.
The scheme is aimed at increasing renewable energy production by 28.4 TWh between 2012 and 2020.T Energy suppliers are allowed to purchase green certificates in the two countries to meet their national requirements.
The Norwegian government wanted to end its involvement in 2016 because it forecasted power oversupplies while Sweden wanted to extend it. Both countries came to an agreement. The new deal will enable Sweden to add another 18 TWh of capacity and the Norwegian government will pay subsidies to new Swedish projects until 2045. However, Norway will stop adding new projects to the joint system after 2021 but the certificates issued under the current system will remain valid until 2046.
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