Energy, EU – Baltic States, Good for Business, Investments, Lithuania

Finance Minister Vilius Sapoka says this is one of the final and the most important phases of project assessment before signing of contract on financing.

"The expert conclusion proves once again the major strategic importance the Vilnius combined heat and power plant has to our state, as it will provide the most efficient solution of waste and high heating prices," Sapoka said in a press release.

Experts of EC technical assistance measure Jaspers confirmed that the project is well-grounded and in line with EU directives, leading to social and economic benefits to the society, Lietuvos Energija said.

The power plant will feature modern gas purifying installations, which will allow reducing CO2 emissions by about 436,000 euros per year, which would have an economic expression of about 17 million euros per year.

The CHP project is estimated at about 350 million euros. Without 150 million euros in EU assistance, up to 190 million euros has been lent by the European Investment Bank (EIB), with the remaining sum to be invested by Lietuvos Energija.