“It’s possible to get between 50 and 75 percent of investment through existing funding instruments,” Artūras Vilimas, Litpol Link CEO, told reporters in Alytus on Thursday.
“We hope to get support for the entire Lithuanian investment, not including the 330-kV switchyard since it has already received money from structural funds… We are preparing the application for those investments now and will try to get money for the construction of both the overhead line and the back-to-back station, and the 400 kV line,” he said.
Applications would be submitted between March and May 2014, he said adding that the amount of support should reach at least 200 million litas. The company expects to get funding from the new financial framework of 2014-2020.
“It’s a new funding instrument [Connecting Europe Facility], it has already been approved and it will be possible to file applications for funding starting from the beginning of 2014,” Vilimas said.
The upgrade of Alytus switchyard and the transformer substation as well as the construction of the direct current back-to-back station and the transmission line will be launched in the spring of 2014.
The back-to-back station and a 400 kV switchyard in Alytus will be built by Sweden’s power and automation technology company ABB under a contract worth 288 million litas. Lithuania’s energy company A. Žilinskio ir Ko will upgrade the Alytus substation in a project worth 43.5 million litas and will also build a 400-kV overhead electricity transmission line from the southern Lithuanian town to the border with Poland in a project worth 73.3 million litas.