Finland and the Brussels region agree on statistical transfers of renewable energy – Finland sells surplus for EUR 1.65 million

Minister of Economic Affairs Mika Lintilä and Alain Maron, Minister of Energy and Climate of the Brussels-Capital Region, have signed an agreement on statistical transfers under the EU’s Renewable Energy Directive (RED II) between Finland and the Brussels-Capital Region.

“Finland’s long-term investments into increasing the share of renewable energy have been successful, and we have exceeded our target. Statistical transfers are a cost-effective means to fulfil EU-level obligations in a way that benefits both parties,” says Minister of Economic Affairs Mika Lintilä.

With the agreement, Finland will transfer the surplus of its renewable energy target to Belgium. The statistical transfer will be assigned for the year 2021. The amount to be transferred is 132 GWh and Finland will receive EUR 1.65 million for it. The purchase price will be paid in one instalment by 31 December 2022.

In order to help the Union to achieve its renewable energy goals, the RED II provides Member States with the opportunity to use renewable energy consumed in other Member States for their own national targets. This is carried out as a so-called statistical transfer where the countries agree on the amount and price of the transfer.

Under the Directive, all Member States participating in a transfer must notify the European Commission of it.

The RED II lays down a binding overall target for the EU to increase the share of renewable energy to at least 32% of the Union’s total energy consumption by 2030. In order to achieve the EU-wide objective, Member States must set their own national contributions to the targets. Finland has announced that it aims to raise the share of energy from renewable sources to at least 51% by 2030. 

In addition, Member states must annually maintain their baseline shares, which are based on the national renewable energy targets of the previous Renewable Energy Directive (2009/28/EC). Finland’s baseline share is 38%. In 2020, the share of renewable energy in the total final consumption was 44.6%, and the share is estimated to have increased further in 2021. 

On 24 November 2022, the Government authorised Minister Lintilä to sign the agreement on behalf of Finland. 

Inquiries:
Nicoleta Kaitazis, Senior Specialist, Ministry of Economic Affairs and Employment, tel. +358 295 04 7067