Norway and Sweden seek joint green certificates by 2012

Norway and Sweden have signed an agreement to develop a common financial support system for renewable energies. The two Scandinavian countries aim to introduce a joint market-based system of ‘green certificates’ by 2012.

Extra revenue will be provided for producers of electricity from renewable power sources like wind, hydro and biomass, while end-users will pay a premium to finance the system.

The agreement signed by Swedish energy minister Maud Olofsson and her Norwegian counterpart Terje Riise-Johansen leaves a lot of questions open regarding details which have to be sorted out before the ceretification system will be ready to launch.

The agreement will pave the way for substantial investments in renewable energies in both countries, says Norway’s Prime Minister Jens Stoltenberg.

The common ground for the new support system will be targets defined by the renewable directives that the two states intend to apply.

EU member Sweden plans to increase the production of electricity from renewable sources to 25 TWh by 2020.

Norway, which is outside the EU, will also have to comply with a new directive, the exact figures of which will depend on the outcome of upcoming negotiations between the EU and Norway

Sweden has had a system of green certificates since 2003, but Norway does not currently have a support system beyond investment grants.

Source: Rechargenews.com