20 March 2006 – Lithuania is set to house a new nuclear power plant that would generate electricity for the Baltic area after the heads of three of the region’s energy companies agreed to prepare a feasibility study for the project.
The memorandum of understanding signed by the heads of Lietuvos Energija AB, Eesti Energija and Latvenergo, confirmed that all parties would participate in the project under equal conditions and would all contribute equally to its development.
They will establish a management committee for the general management and control of the project and delegate CEO’s of all three energy company’s to be members of the committee.
The Baltic members see nuclear energy as an ideal way of diversifying their energy supply.
The CEO of the Estonian energy company Eesti Energia Sandor Liive said: “A study we conducted in 2002 with the Ministry of Economic Affairs showed that for diversifying generation resources nuclear plant is one of the most seriously perceived options.”
Lithuania was selected as the preferred site due to its relevant infrastructure and experience.
Investigation into the nuclear project is the latest in a line of events the Baltic region has undertaken to guarantee a more stable energy supply, which includes the Estonian-Finnish electricity transmission project, Estlink.