OREANDA-NEWS  On 06 October was announced, that National Investor LEO LT’s daughter company Lietuvos Energija signed a cooperation agreement with European Bank for Reconstruction and Development (EBRD). Under the signed agreement the bank extended a grant of EUR 2 million for the power bridge project with Poland.

The grant will be used for preparatory works for interconnection between Lithuanian and Polish power systems. The Agreement was signed in Vilnius by Mr.Darius Masionis, General Director of Lietuvos Energija and Mr.Vince Novak, Director of EBRD Department.

“We are glad that we succeded in raising funds for preparatory works of the project, which will doubtless expedite the project” - says Mr.D.Masionis, General Director of Lietuvos Energija AB.

“We are looking forward to working with our Lithuanian and Polish colleagues on this very important project which we should all treat with a sense of urgency“ – says Mr.Novak.

Based on preliminary calculations, the construction of the interconnection Alytus-Elk is estimated at EUR 237 million. By the middle of next year the interconnection’s route should be clarified.  The interconnection project between Lithuanian and Polish energy systems is implemented by a joint venture of Lietuvos Energija and Polish PSE Operator’s company “LitPol Link”.