Energy, Energy Market, Lithuania, USA

International Internet Magazine. Baltic States news & analytics Monday, 14.10.2019, 02:46

Exelon engineers are once again exploring Lithuania

BC, Vilnius, 26.03.2019.Print version
Lithuania's Ministry of Energy, US company NET Power and energy innovation company 8 Rivers Capital signed in the middle of March a memorandum of understanding on a feasibility study for a zero-emissions power generation project, informed LETA/BNS according to the

And US energy giant Exelon, which took part in the Visaginas nuclear power plant project, is behind the back of the NET Power startup which has developed a new-technology gas power plant, the business news website reports.

8 Rivers Capital was the only participant of the Ministry of Energy's announced survey, proposing implementing the power plant project under market conditions, i.e., without any state assistance. It invests into and helps to implement highly-risky and future-oriented technology projects.

The US companies built a 50 MW gas power plant, valued at around 150 mln US dollar, in Texas, in cooperation with McDermott, Exelon and Oxy Low Carbon Ventures.

Exelon Generation's subsidiary Exelon Nuclear Partners considered taking part in the Visaginas NNP project and was picked as the project's engineer in 2011 but the project failed to secure public support and was halted.

The value of planned investment in Lithuania has not been disclosed.

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