Lithuania plans to invest EUR 880 mln in power grid development by 2022
VILNIUS. Feb 22 (Interfax) - The Lithuanian commission for control over energy and prices has approved a plan for the development of the country's power grid submitted by the national operator of the electric power transmission system Litgrid.
The commission said the price tag is around EUR 880 million, and the plan comports with Lithuania's energy independence strategy. It is for the period until 2022.
Of LTL 3.038 billion, the plan is to put LTL 827 million into the building of power linkages with Swedish power lines (NordBalt), into the first part of an energy bridge that will join the power grids of Lithuania and Poland (LitPol) will go LTL 622 million, into the second part - LTL 380 million.
In addition, LTL 455 million is planned for the reconstruction and modernization of power lines within the country for preparations for synchronous work with European grids. Other investments are planned for the development of the system of telecommunications and management, and projects for increasing the reliability of power lines.
Litgrid will invest LTL 2.802 billion, and another LTL 236 million will be invested by major power producers and private companies.
Last summer, the Lithuanian parliament approved a national strategy for energy independence envisioning the resolution of the main energy sector tasks before 2020 and its development in the period until 2030 and to 2050. The strategy involves investment by the government, European Union, and private capital in the sector to the tune of roughly EUR 6.5-8 billion.
Litgrid is controlled by the government.
The country's national currency is pegged to the euro at LTL 3.4528/EUR1.
