Inter RAO reaches agreements for energy supplies through its Lithuanian counteragent
MOSCOW. March 4 (Interfax) - OJSC Inter RAO UES has signed an agreement with CJSC INTER RAO Lietuva (Lithuania) for ensuring export supplies of electricity from the Baltic Nuclear Power Plant (NPP) currently under construction, the power holding said.
The document foresees the geographical expansion of electricity exports from the Kaliningrad Region and signing long-term buy-sell contracts for electricity in the future.
Exports of electricity from the Kaliningrad Region will reach 1,000 megawatts starting form 2017. If technically and economically feasible, both sidles could decide on boosting total electricity supply starting from 2019, the statement said.
Inter RAO earlier signed 20-year agent agreement with OJSC Rosenergoatom for organizing electricity supplies from the Baltic NPP.
Inter RAO subsidiary RAP Nordic Oy owns 51% in INTER RAO Lietuva, which has been the Russian holding's counteragent since 2003. Investment company Scaent Baltic holds the remaining 49% stake in INTER RAO Lietuva.
INTER RAO Lietuva is a licensed independent supplier for the import and export of electricity to the Baltic states. The company trades electricity on the Baltic's single energy market at auctions and through bilateral agreements.
Inter RAO is Russia's monopoly in the export and import of electricity. The company is state-controlled.