BNS: Baltic energy cos, EU to co-fund study into feasibility of region's connecting to UCTE
Updated 2009-02-19
VILNIUS, Feb 17, BNS - The energy companies of Lithuania, Latvia and Estonia have agreed to contribute in equal parts to the financing of the study into feasibility of the Baltic region's connection to the Union for the Coordination of Transmission of Electricity (UCTE).
"The Baltic operators have already secured the European Union (EU) funding for this project in the amount of 750,000 euros," Darius Masionis, chairman and CEO of Lithuania's electricity transmission operator Lietuvos Energija (Lithuanian Energy), said.
Renata Gaudinskaite, Lietuvos Energija spokeswoman, told BNS that three Baltic companies would provide the remaining funding in equal parts. However, she could not specify the amounts at this stage.
Apart the EU, the study, which is planned to be launched in June, will be financed by Lietuvos Enegija, Latvia's Augstsprieguma Tikls and Estonia's Pohivork. The authors of the study would be named by UCTE, Gaudinskaite
said.
The feasibility study concerned other countries as well and would involve the operators of electricity transmission systems of Poland, Russia and Germany, Masionis said.
In line with the results of the primary feasibility study announced in March 2008, investments into the required energy infrastructure projects would total some 2.5 billion euros.
Lithuania's national energy company Leo LT owns 96.4 percent of electricity transmission operator Lietuvos Energija.
