The European Commission has sanctioned Lithuania's plan to allocate €180 million (USD 196.4 million) in direct grants aimed at supporting investments in the deployment of at least 1,200 MWh of new energy storage capacity.
This initiative is designed to enhance the integration of renewable energy sources in the country.
The grant scheme will be available for all electricity storage technologies that are directly connected to the transmission network.
Projects will be selected through an auction process, with financial aid capped at 30% of the relevant investment costs. According to a press statement released on Monday, the grants must be allocated by December 31, 2025.
This initiative aligns with the European Union's Green Deal Industrial Plan and has been approved under the State Aid Temporary Crisis and Transition Framework (TCTF).
