Energy, EU – Baltic States, Funds, Lithuania
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Friday, 29.03.2024, 09:31
Baltics, Poland hope to get up to EUR 900 mln in EU support for 2nd synchronization stage
1.2 bn euros is necessary for the second stage, and the
companies hope to get up to 900 mln euros from the European Union.
Regulators are expected to evaluate the application over the
course of six months and an application for funding under the Connecting Europe
Facility will be filed next fall.
At this stage, the largest share of investment would be go
to the Lithuanian-Polish submarine HVDC power interconnection Harmony Link.
Each of the three Baltic states also plans to build 2 synchronous compensators.
The first stage received 75% in CEF funding. The
European Commission then allocated 324 mln to Lithuania, Latvia and Estonia,
including 125.2 mln euros for Lithuania. All in all, Lithuania will need 167 mln
euros to bolster its power system.
The Baltic grids are still part of the post-Soviet BRELL
ring, which also includes Russia and Belarus, and remain dependent on the
control center in Moscow and the Russian electricity system.
Lithuania, Latvia and Estonia aim to de-synchronize from the
post-Soviet IPS/UPS system and synchronize their grids with that of continental
Europe by 2025.