Sweden and Norway will add 18 TWh of New Renewable Power by 2022

Norway and Sweden plan to add 18 TWh of new renewable power by 2022 under their common green subsidy scheme. The program will close to new participants from 1 January 2022. New projects under #construction are expected to add 10.6 TWh in Sweden and 7.4 TWh in Norway.

#Norway and Sweden have had a common green certificate market since 2012, aimed at increasing #renewable #energy production by 28.4 TWh between 2012 and 2020, with Norway to finance 13.2 TWh and Sweden 15.2 TWh. Producers of wind and #hydropower received one certificate per MWh of renewable power generation over a 15-year period. #Energy suppliers are allowed to purchase green certificates in the two countries to meet their national requirements. The Norwegian government, which forecasts power oversupply, wanted to end its #involvement in 2016, while #Sweden wished to extend it. Both countries came to an agreement in April 2017, allowing Sweden to add another 18 TWh and to receive a subsidy until 2045, while Norway decided to stop adding new projects to the joint system after 2021; the certificates issued under the current system would remain valid until 1 April 2046. In September 2020, the two countries signed an amendment to the mechanism, which will close down at the end of 2035.

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