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Lukoil Baltija CEO invests in solar energy

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Evelinos ir Karolio nuotr. / Sun
Šaltinis: BNS
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Ivan Paleichik, the president of Lukoil Baltija which operates Lithuania's largest retail fuel chain, is investing in solar energy, the business daily Verslo Žinios reports.

Paleichik told the paper that he had not estimated how long exactly it would take for the investment of around 200,000 litas (EUR 58,000) in a 30-kilowatt plant in the northern Lithuanian district of Akmenė to pay off.

"Typically, it is estimated that such a project will pay for itself in ten years and a power purchase contract is concluded for 12 years. So, we will have two years of profit," he said.

Paleichik said that apart from this small project, he did not plan to take on any more solar energy projects at the moment.

"I want to try and see if there is any benefit or not. This is why we are building one pilot facility," he said.

BNS
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