Lietuvos energija, AB - Other information

A Memorandum on Cogeneration power plant in Petrašiūnai was signed by Lietuvos energija, AB and AB Kauno energija

Elektrenai, Lithuania, 2013-01-11 14:45 CET (GLOBE NEWSWIRE) -- Executives of
Lietuvos energija, AB and AB Kauno energija signed a Memorandum of intent in
developing Construction Project of a Cogeneration power plant in Petrašiūnai
today. 

Memorandum was signed considering constant growing of heating prices in Kaunas
city and the work that has been done on the matter before the signing of the
memorandum. The Project is going to be developed on purpose to ensure the lower
price of heating for consumers in Kaunas as soon as possible. 

After signing the Memorandum, Lietuvos energija, AB and AB Kauno energija are
going to work on a mutually acceptable agreement of a joint development of the
project and subsequent action plan. There is also a plan to sign a
shareholders' agreement which will define the model of cooperation between the
companies and to establish a joint company for the development of the Project.
It is expected that the agreements will be settled until the middle of this
year. 

“Considering the fact that a lot of work is already done, we hope that
realization of this Project will get a strong impact in the nearest future. We
give credit to this Project and its perspectives“, - Dalius Misiūnas, CEO of
Lietuvos Energija, AB said. 

It is expected that AB Kauno energija will give a permission to exploit
existing infrastructure building Cogeneration power plant. Whereas Lietuvos
energija, AB will keep the realization of the Project by its own finances or on
loans. 




         Ernesta Dapkienė
         Head of Communications
         Lietuvos Energija, AB
         Elektrinės str. 21
         Elektrėnai
         Phone +370 528 33696
         ernesta.dapkiene@le.lt