Monday, October 26, 2020
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Lithuania to strengthen its energy innovation ecosystem

Lithuania’s Minister of Energy Žygimantas Vaičiūnas approved an action plan for strengthening the Lithuanian energy innovation ecosystem.

This plan sets out more than 50 measures to develop and strengthen the energy innovation ecosystem in the areas of infrastructure, human resources, products and services, the regulatory environment, science and technology. The bulk of these measures are planned to already be implemented in 2020-2023.

“In the National Energy Strategy, we set ourselves the goal of creating and developing energy innovations in order for them to become an important part of Lithuania’s exports and contribute to the country’s economic growth,” said Minister Vaičiūnas. “This, the first integrated Lithuanian energy innovation plan, will create conditions for strengthening the entire energy innovation ecosystem and bringing together representatives of science and business so that progress and technological advancement in energy can take place as quickly as possible. The aim is to create a favourable environment for our manufacturers and researchers to further develop the innovative products created and to offer the market new, advanced solutions.”

The action plan provides for the creation of a funding programme for the energy innovation sector to promote the development and commercialisation of innovative products and services. This kind of programme will help to effectively implement individual sectoral initiatives, such as the development of hydrogen technologies in Lithuania.

In addition, the amendments to the Law on Energy will encourage innovations among regulated energy companies by defining sources of funding for innovation in these activities. This will encourage companies to invest more in innovation.

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