The European Commission has cleared a EUR 450m Estonian scheme to subsidise renewable electricity projects over the next 10 years, including switching existing fossil fuel-fired plants to renewables, it said on Wednesday.The EC said the planned subsidies would promote renewable power and cut greenhouse gas emissions, helping the EU meet its energy and climate goals without unduly distorting competition.
It concluded the scheme was therefore in line with EU state aid rules.
The Estonian government will pay the subsidies as premiums to the electricity market price.
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