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Friday, 29.03.2024, 15:20
Litgrid made additional investment to protect NordBalt
The National Commission for Energy Control and Prices on Wednesday approved Litgrid’s investment in NordBalt, which totaled 223.12 million euros.
The newly-approved amount exceeds the previous estimate by 18 million euros, of which 9.86 million euros have been invested in the burying of the undersea cable at a greater depth, which, according to Litgrid, was a necessary precaution to prevent damage to the cable.
NordBalt should launch operations in the first quarter of 2016. According to preliminary estimates, investment in the power interconnection between Lithuania and Sweden raises the electricity transmission cost by 1.93%, or 0.0133 cents per kWh.
The total interconnection NordBalt is worth a preliminary 550 million euros, of which 131 million euros have been earmarked by the European Union (EU) and the remaining amount has been split by half between Lithuania and Sweden.
The 700-MW interconnection will be jointly operated by Litgrid and Sweden’s electricity transmission system operator Svenska Kraftnat.