Creative accounting used to meet 2020 RES target

Estonia and Luxembourg have signed an agreement on the “statistical transfer of renewable energy amounts” that will help the latter meet its binding 2020 renewable energy target, the European Commission has announced.

The agreement, signed last week, was the second such deal, following a similar arrangement struck between Lithuania and Luxembourg on 26 October.

“These agreements are strong signals that show how European cooperation can create true win-win-situations and enable Member States to jointly deploy energy potentials more cost-effectively,” the EU executive’s director-general for energy, Dominique Ristori said.