"Once implemented, the project will allow efficient use of local resources, in this case, biofuel. Gas prices have surged by more than 50 percent since early 2011, whereas biofuel prices have risen by just over 5 percent. We focus on regional biofuel suppliers and plan that the installation of biofuel boilers will help ensure a more stable heating price for consumers in Elektrėnai," Lietuvos Energija CEO Dalius Misiūnas said in a press release.
The company expects to put part of the new biofuel-based heat energy production capacities into operation in 2013. The new biofuel boilers with a total capacity of 40 megawatts will produce heating for private individuals and businesses in the municipality of Elektrėnai.
State-owned Visagino Atominė Elektrinė (Visaginas Nuclear Power Plant, or VAE) holds a 96.13 percent stake in Lietuvos Energija.