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Cost of nuclear power plant loans depends on Brussels' conclusions

Irmanto Gelūno / 15min nuotr. / Turbinos
Šaltinis: BNS

Energy Minister Arvydas Sekmokas says that the European Commission's favorable conclusions on Lithuania's planned new nuclear power plant project would help bring down the cost of loans and Prime Minister Andrius Kubilius underlines that it will also depend on how well the country manages its finances.

"We expect to receive the European Commission's conclusion regarding our project. As far as I know, it is positive. A positive conclusion opens the way for loans from Euratom and the European Investment Bank, which are much cheaper than those from commercial banks," Sekmokas said during a meeting with opposition MPs on Tuesday.

Kubilius said that the borrowing cost will also depend on Lithuania's rating.

"The better we manage our country's finances, the more chances we will have to borrow cheaper in 2015 onwards. As things are now, Estonians will borrow cheaper than we will and we will possibly borrow cheaper than Latvians. In 2015, all of us could be in a rather good situation," he said.

The planned new nuclear power facility in Visaginas, in northeastern Lithuania, is estimated to cost around 17 billion litas (EUR 5 billion), of which 50 to 70 percent would have to be borrowed. Lithuania would have to contribute nearly 6 billion litas to the project, of which some 3 to 4 billion litas would be borrowed by Visagino Atominė Elektrinė (Visaginas Nuclear Power Plant, or VAE), a state-owned company that would hold a stake of around 34 percent in a new company that would operate the plant.

The Visaginas plant's strategic investor is Hitachi Ltd together with Hitachi-GE Nuclear Services, in which Hitachi holds an 80 percent stake.

Naujienų agentūros BNS informaciją atgaminti visuomenės informavimo priemonėse bei interneto tinklalapiuose be raštiško UAB „BNS“ sutikimo draudžiama.
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