The country meets its 60% of its electricity demand through imports as domestic generation of electricity from imported gas is expensive.
A part of state-owned power group Lietuvos Energija, LEG will close its two 150MW units at Lithuania’s biggest power plant, Lietuvos Elektrine, by the end of 2014 and another two units, each producing 300MW, in 2015.
Following the closures, the company will continue to operate one 455MW combined cycle gas turbine (CCGT) as well as two reserve power units of 300MW each.
Meanwhile, the company is planning to invest around $148m-$212m for the development of a new 225MW unit at its Kruonis pumped storage hydropower plant and a wind power park with a 40-45MW capacity.
By the end of 2015, Lithuania plans to construct new power links to Sweden and Poland, which will reduce domestic prices further.
Apart from importing gas from Russia, Lithuania plans to import liquefied natural gas (LNG) from 2015.
Image: Lietuvos elektrine power plant in Lithuania. Photo: courtesy of Bearas.
