LITGRID - Notification on material event

Litgrid borrows from European Investment Bank

Vilnius, Lithuania, 2014-12-19 08:00 CET (GLOBE NEWSWIRE) -- On 18 December
2014, the Lithuanian electricity transmission system operator Litgrid and
European Investment Bank (EIB) signed an agreement on 65 million euro loan for
a maximum period of sixteen years. The funds will be used to partially finance
implementation of LitPol Link project and the new power line from Alytus to
Kruonis PSHP (Pumped Storage Hydroelectric Plant). 

The LitPol Link project is a part of Baltic Energy Market Interconnection Plan
(BEMIP) aimed at connecting the energy systems of the Baltic Sea region
countries and eliminating energy islands in the European Union by the end of
2015.  Linking the power systems of Lithuania and Poland, LitPol Link will
start operating at the end of December 2015. The new overhead power line
Alytus-Kruonis PSHP will ensure maximum use of the Lithuanian-Polish
interconnection. 

The EIB is the European Union's bank, the only bank owned by and representing
the interests of the European Union Member States. As the largest multilateral
borrower and lender by volume, the EIB provides finance and expertise for sound
and sustainable investment projects which contribute to furthering EU policy
objectives. 


         Vilija Railaitė
         Head of Communications
         Phone +370 5278 2361
         Mobile +370 613 19977
         E-mail vilija.railaite@litgrid.eu