Energy, EU – Baltic States, Investments, Lithuania

Having announced the strategic investor by the end of this year, the negotiations will be continued and completed in 2011. Under the established procedure, the government shall address the Seimas with a request to approve the obligations of the State of Lithuania in the development of this project. According to Sekmokas, the Minister of Energy of Lithuania, obvious progress in Visaginas nuclear power plant project is good news for Lithuania and regional partners which have also submitted their proposals regarding their participation in VNPP project.

The new Visaginas nuclear power plant will not only significantly boost a degree of energy independence of the country but the power plant will also be an important supplier of electricity to the entire region.

The construction of the new nuclear power plant, in close cooperation with other Baltic countries - Estonia, Latvia and Poland, is stipulated in the National Energy Strategy, approved by the Resolution of the Seimas of the Republic of Lithuania No. X-1046, dated January 18, 2007. The continuity of this project is reinforced in the National Energy Strategy, which the Government of the Republic of Lithuania approved by Resolution No. 1426, dated October 6, 2010. The new regional Visaginas nuclear power plant will solve the issue of the electricity supply deficit, provide an additional benefit to the state and all electricity consumers and yield a strong impulse for the rapid development of the Lithuanian business.