Baltic, Energy, Investments, Latvia, Lithuania, Nuclear power plant

According to Aivars Cers, project manager at Latvenergo's Research and Development Department, their company's experts agree that there is no alternative to nuclear energy given a shortage of electrical capacity in Latvia and other Baltic States. Latvia has thermoelectric-power plants and hydroelectric power plants, yet, the country feels a lack of stability of electric energy supply which can be ensured only by a NPP, writes LETA.

For Lithuania, the NPP project first of all means energy independence, while for other partners it brings business opportunities. The NPP would reduce Latvia's energy dependence too: Lithuanian and Latvian power systems are closely connected, which means that electricity can be supplied from one country to another without any major restrictions. The economic aspect is important too. If the project turns out to be successful, the electricity supplied by power companies will become more competitive, while Latvia would see an increase of revenue to their state budget.

The Visaginas NPP project is of interest to Latvian construction and road construction companies, as well as Latvia's logistics specialists and suppliers and producers of building materials.

If Latvian companies meet the requirements of the strategic investor, they could be invited to tenders worth EUR 1.5 billion, which in turn would positively affect the state budget.