Lietuvos Elektrine operates the 1,800MW thermal Lithuanian power plant (LPP), which has eight generation units, currently fired with natural gas, heavy fuel and oil emulsion. The EBRD loan will finance the construction of the CCGT unit at LPP, with a capacity of 450MW. Upon completion in 2012, the facility will replace two of the LPP’s outdated generation units with a combined capacity of 300MW.
The project is expected to help Lithuania make up for lost power generation capacity following the closure of the Ignalina nuclear power plant (INPP), which accounted for approximately 70% of the country’s total electricity output. INPP also exported electricity to Latvia and Estonia.
Nandita Parshad, director of power and energy at EBRD, said: “Increasing the generation capacity of LPP is a key priority for Lithuania and the EBRD is pleased to support Lietuvos Elektrine in the implementation of this strategic project. The construction of the new modern power plant will alleviate the impact of lost capacity in Lithuania and will support the creation of a secure and reliable power system in the region.”
Rolandas Jankauskas, chief financial officer of Lietuvos Elektrine, said: “We would like to thank the EBRD for helping to bolster the power generation in Lithuania. The bank’s support also demonstrates that AB Lietuvos Elektrine is creating a competitive and an efficient modern power plant for Lithuania and for the Baltics.”
