Lietuvos Energija AB - Notification on material event

Lithuania, Latvia and Sweden Submitted a Tender to the European Commission for Funding of Electricity Link Project

On 15 July 2009, Lithuania, Latvia and Sweden submitted a tender to the
European Commission for funding of NordBalt project. The tender was submitted
by the Public Institution Central Project Management Agency (CPMA) on behalf of
the consortium with AB Lietuvos Energija, Latvenergo (Latvia), and Svenska
Kraftnat (Sweden). The estimated funding by the European Union amounts to EUR
175 million, 44 million EUR of which will be allocated to Latvian domestic
network, and 131 million EUR - for the link between Sweden and Lithuania. 

The project intended to be completed in 2016 aims to join power supply systems
of Lithuania and Sweden by laying a 350 km long cable across the bottom of the
Baltic Sea and by building current converter plants in both countries. The
preliminary project value is EUR 516-738 million. 


Head of Division of Communication
Rūta Merčaitienė, phone: +370 5 278 2442