Grigiskes - Notification on material event

AB Grigeo Grigiškės signed agreement to supply heat to Vilnius

Vilnius, Lithuania, 2016-03-31 11:33 CEST (GLOBE NEWSWIRE) -- Actively
contributing to meeting Lithuania’s international commitments to increase the
use of renewable energy sources in energy production, and also seeking to
optimise production costs, AB Grigeo Grigiškės (the Company), upon completion
of the project “Connection of the independent heat producer to Vilnius Heating
Networks”, has signed an agreement on the purchase and sale of heat energy with
UAB Vilniaus Energija. 

According to the agreement, since April 2016 the Company undertook to supply
heat energy, at the capacity and with the quality established in the agreement,
to consumers of Grigiškės, without exceeding the heat energy capacity
requirement of district heating system consumers during the heating and
non-heating seasons. It is planned to sell up to 42,000 MWh of heat energy per
year to supply heating to the town. 

The Company will produce heat energy at its new 10 MW biofuel boiler house,
which was completed in October 2014 and is equipped with a 2 MW condensing
economiser, and will supply it through an intermediate heat exchange station
built in 2016. The total investments of AB Grigeo Grigiškės in this project
amounted over EUR 4.2 million, including EUR 1.7 million of support funds
(Project No VP3-3.4-ŪM-02-K-02-020). 


         Gintautas Pangonis
         President of AB Grigeo Grigiškės
         (+370-5) 243 58 01