Energy, Investments, Lithuania, Nuclear power plant, USA

"As you know it, the U.S. has backed Lithuania's national strategy on energy independence a long while. We also support Lithuania's and the regional partners' efforts to improve energy security of the region. Thus, we are happy to be able to support the Visaginas project (...)," the diplomat said on Thursday, after being asked by reporters why the U.S. wanted to invest in the plant. As reported, Lithuania received two bids from potential strategic investors – Japan's Hitachi-GE Nuclear Energy Limited and the U.S. Westinghouse Electric Company.

The planned maximum capacity of the projected Visaginas nuclear plant is 1,300 megawatts, which is less by two times than the capacity of the Ignalina plant closed in end-2009 under one of the terms of Lithuania's 2004 entry into the European Union. The strategic investor will have the majority shareholding of 51% in the plant. Lithuania will have the 34-percent stake. The funds necessary for the construction works have not been disclosed yet. The Visaginas plant is scheduled to launch operation in 2020.

Preparatory works are expected to start in 2012.

Prime Minister Andrius Kubilius Thursday met with President of Hitachi Hiroaki Nakanishi in Vilnius.