Two New Bids to Build Lithuania Nuclear Power Plant

Lithuania’s nuclear power plans are back on track with two new propositions on the table. On Wednesday the Lithuanian government announced it had received two bids from rival companies to build a new nuclear power plant. Energy Minister, Arvydas Sekmokas stated that the two bids were from Westinghouse, a branch of Toshiba Corp. and an amalgamation between Hitachi Ltd and General Electric Co. The company’s tender proposals will be assessed over the summer before an agreement can be finalised. Minister Sekmokas stated the winning company would finance the project with a mixture of share offers and electricity supply to the open market.

The original Russian built Ignalina nuclear power plant at Visaginas was shut down in 2009 in accordance with agreement made for Lithuania joining the European Union. Plans to replace the plant were dashed when South Korean power company, KEPCO dropped out of their proposed tender in 2010. The workforce that operated the Ignalina plant between 1983 and 2009 are still in place and the site already has environmental consent to build a new nuclear plant and existing major grid connections are already in place. The old plant powered most of the Baltic States region, the new plant is expected to have a capacity out put of 2,200 and 3,400 MW and be completed by 2020. “Before agreement can go ahead the proposals from the two bidders must be discussed with Lithuania’s regional partners Latvia, Estonia and Poland, as well as the European Commission,” stated Minister Sakmokas.

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