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International Internet Magazine. Baltic States news & analytics Tuesday, 22.09.2020, 04:43

EIB to loan EUR 110 mln for Lithuania's smart meter project

BC, Vilnius, 15.09.2020.Print version
Lithuania's state-owned energy group Ignitis Grupe is set to receive a 110-million-euro loan from the European Investment Bank (EIB) to help finance a smart meter project, the Lithuanian company said in a statement to the Nasdaq Vilnius Stock Exchange.

Ignitis Grupe's management board gave the go-ahead for signing a loan contract with the EIB. 

Once it receives the EIB financing, the group will provide a loan to Energijos Skirstymo Operatorius (ESO), its electricity and natural gas distribution subsidiary that is carrying out the project. 

ESO said in February that it had shortlisted six potential suppliers of smart meters for a further selection process, with a contract with the winning bidder planned to be signed in late 2020.  

The company is planning to purchase some 1.2 mln meters in the initial stage. The supplier will also be responsible for a meter data collection and management IT solution, and communication.

ESO is planning to install smart meters in Lithuania in 2021-2023.

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