Energy, Legislation, Lithuania, Nuclear power plant

Arvydas Sekmokas.

It was initially expected that the concession agreement with the strategic investor, the Japanese company Hitachi, would be signed by end-June, while now signing of the agreement has been postponed until the end of the year, writes ITAR-TASS/LETA.

Sekmokas explained this was necessary so talks could continue with the strategic investor and regional partners.

The concession agreement was initialed on March 30. The agreement lays down the main project implementation principles, as well as Lithuania's obligations and rights in the project.

At the moment, the concession agreement provides that Latvia's power utility Latvenergo could have a 20% stake in the project, and its investment will be around EUR 1 billion. Estonia could get a 22% stake, Lithuania – 38%, and Hitachi – 20%.