Direct Speech, Energy, EU – Baltic States, Lithuania

In his words, the planned changes will allow transforming Lietuvos Energija into a new generation company generating half of its value abroad.

"The key directions will include increasing renewable energy capacity, increasing the share of related non-regulated activity, and expansion abroad. The share of renewable generation in our EBITDA now stands at around 10-15 percent and should exceed 50 percent in 2030. Now we generate up to 2 percent of our EBITDA in international markets, and half of value will be generated outside Lithuania in 2030", the Lietuvos Energija CEO told BNS Lithuania.

In his words, new smart energy has been split into a separate strategic direction but in its sense it’s in fact part of renewable energy.

"Key renewable generation includes major wind and solar energy parks, their development and consolidation. Meanwhile, we focus on business models with micro-producers as part of new energy. We want to empower them to build power generation, storage and power exchange infrastructure, to merge it into virtual units and give them an opportunity to not only produce power for their own needs but to also have a long-term business", Maikstenas said.

In his words, one of Lietuvos Energija's activity directions in the area of innovation is to provide an opportunity to try out new business models and technology within the distribution network and other infrastructure objects. "It will let us gain certain experience in terms of new technology and also find opportunities for investing in energy start-ups having the largest potential, this way developing a new generation energy business", Maikstenas said.

He said Lietuvos Energija's all activities would be planned for the results to be used for promoting growth in international markets. The Lithuanian company is currently eyeing business opportunities in the Baltic states, the Scandinavian market as well Central and Eastern European countries.