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Lithuanian Baltpool borrows EUR 15 mln from Pohjola
BC, Vilnius, 06.11.2015.
Print version
Print versionBaltpool, the energy resources exchange operator that administers the Public Service Obligations (PSO) budget, is set to borrow 15 million euros from Finland's Pohjola Bank, to balance PSO fund flows, informs BNS/LETA.
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Baltpool and Pohjola Bank signed a three-year loan agreement on October 26. The bank is to be paid 212,300 euros in interest on the loan, according to the official gazette Valstybes Zinios.
DNB and SEB Bankas also submitted offers, worth 321,000 and 405,000 euros, respectively, to provide the loan.
Baltpool has been the administrator of PSO funds since 2013.
The overall PSO budget amounts to 158.2 million euros this year and is expected to decrease to 139.981 million euros next year.
The funds are now used to subsidize the Lithuanian Power Plant in Elektrenai, combined heat and power plants, and power plants using renewable energy resources, as well as strategic energy facilities.
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