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EU energy giants may take interest in Lithuania's N-plant project

Visagino atominė elektrinė
VAE vizualizacija / Visagino atominė elektrinė
Šaltinis: BNS
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Energy Minister Arvydas Sekmokas said on Tuesday that Lithuania's planned new nuclear power plant project could attract interest from large EU energy companies and that negotiations with Latvia and Estonia were being held "for each and every share."

"Other participants are quite attractive and interesting to us. If Poles took part, then why not? Certainly, under the same conditions. It is likely that major EU energy companies may take interest. It is very important for us to have freedom to manoeuver," he said during a meeting with opposition MPs.

The minister said that talks with Estonia and Latvia are continuing, but are not easy, with "each country seeking the maximum benefit for itself."

"If we had more interested participants, we would create certain competition and would have more favorable conditions. These differences are not great, but they translate into millions," he said.

Lithuania should own at least 34 percent of shares in a new company that would operate the plant. The size of other shareholders' stakes in the project is still a subject of negotiations.

Latvia's Latvenergo has said that it wants at least 20 percent of shares and Estonia's Eesti Energia is said to be eyeing a similar stake. Japan's Hitachi, the strategic investor in the project, should own a stake as well.

Prime Minister Andrius Kubilius has mentioned recently that the Visaginas plant's business plan will also provide for attracting funds from privately-owned companies or private individuals.

BNS
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