Lietuvos energija, AB - Notification on material event

Notice Regarding a Letter of Intent Signed by Lietuvos energija, AB

Elektrėnai, Lithuania, 2012-03-07 09:23 CET (GLOBE NEWSWIRE) -- Lietuvos
energija, AB (hereinafter the Company) and Fortum Heat Lietuva, UAB signed a
letter of intent regarding an investment project with the purpose to design,
build, and operate cogeneration power plant in Vilnius City.  The new power
plant is expected to be of approximately 50 MW electric and approximately 110
MW thermal capacity, it will use biomass and other fuel of local origin. The
value of the planned project may reach EUR 200 million. It is planned that the
main partner of the project is Fortum, which will coordinate the initial stage
works. 

The initial stage of the project foreseen in the signed letter of intent covers
the search for the land plot, preparation of study of fuel supply for the power
plant, feasibility study, and pre-design study, project development plan with
strategic environmental impact assessment, as well as preparation and approval
of the power plant environmental impact assessment program. Having assessed the
results of the initial stage, the Board of the Company will take a decision
regarding the further development of the project and investment. 






         Jūratė Kavaliauskaitė
         Head of Communications
         Lietuvos Energija AB
         Tel. +370 528 33691
         E-mail: jurate.kavaliauskaite@le.lt