Energy, Legislation, Lithuania, Nuclear power plant

The laws, according to the president, create a legal basis for launching a major, long-term project essential both to Lithuania and the entire Baltic region. Now it is the turn of the Government and the Seimas to make further decisions to continue the project, writes LETA/ELTA.

"Politicians of several different mandates will have to assume the responsibility of the energy future of the country. It will depend on those politicians whether the Visaginas NPP project is transparent, qualitative and useful for the people of Lithuania. Only this kind of project will receive support," she said.

According to the head of state, the NPP project, implemented in a responsible manner, could become an economic stimulus for the Baltic region for several decades.

"If we do not have a single serious project in the region, we will become an economic province in the EU. The Visaginas NPP is a chance for the Baltic States to have a strong and long-term impulse for their economies and ensure a faster growing public welfare. This is up to us, the Baltic States, if we manage to seize this opportunity," Grybauskaite stressed.

As reported, the Seimas adopted the Law on Granting the Concession and Assuming Essential Property Obligations of the Republic of Lithuania in Visaginas NPP Project. Following the roll call voting, 69 MPs were in favour of the Law, 2 were against, and 3 MPs abstained.

The document approves the award of the concession to the project development company in Visaginas NPP project. The Seimas also approved the Draft Concession Agreement between the Republic of Lithuania, the strategic investor, and the project development company, including the essential property obligations of the Republic of Lithuania set forth in the Draft Concession Agreement.

The Concession Agreement provides that parties will work together to achieve the following objectives: to obtain a Construction and Operation Licence by no later than 31 July 2015; start concrete works by 31 July 2016; and commence commercial operation between 31 December 2020 and 31 December 2022.