Nuclear power plant project in Lithuania is feasible

Today, 25 October, the Steering Committee consisting of the management of the three energy companies met in Vilnius to approve the results of the feasibility study for construction of a new nuclear power plant in Lithuania. The objective of the half-year-long feasibility study was to assess the feasibility of constructing a new nuclear power plant taking into account both present and forecasted economic, technological, financial as well as legal environments of Baltic countries and EU. The main conclusion of the study - it is feasible to build a new nuclear power plant. “Today has officially ended the feasibility study of constructing a new possible nuclear power plant and now results of the study will be introduced to the members of the parliaments and the Governments of the three Baltic countries as well as to the wider public,” said the director general of Lietuvos Energija Rymantas Juozaitis. The study of available reactor technologies determined that there is a satisfactory range of proven reactors that would be suitable for use and that would meet prevailing international safety standards. The study revealed that the current Ignalina site is suitable for developing a new reactor. The study also determined that the current transmission grid would be able to cope with the new power plant with considerable reinforcement and adaptation. It indicates that short term storage of waste would continue as for Ignalina, that long term storage options for existing and future waste are to be developed in the context of EU-led initiatives. The CEO of Latvenergo Karlis Mikelsons said that the reason for choosing nuclear technology is to maintain a diversified generation structure in the Baltic region. “It is crucial that after the closure of nuclear power plant we have enough production capacity to provide electricity supply to our customers,” said Mikelsons. “We should not underestimate other advantages of nuclear energy, like good accessibility of fuel and help meeting Kyoto targets for CO2 emissions,” added he. According to the feasibility study the possible investments will depend on chosen reactor types and a number of units. “The completion of the study and the possible results encouraging going on with the project do not mean that investment decision has already been made,” commented the completed feasibility study the CEO of Eesti Energia Sandor Liive. “Before we are ready to invest into a nuclear power plant a certain preparatory work has to be done, from negotiations to execution of tenders,” explained further steps Liive. The half-year-long study has been conducted subject to memorandum, signed by three power companies: Lietuvos Energija, Latvenergo and Eesti Energia on March 8, this year. The parties in the project participated under equal conditions. Local scientists, specialists from energy field and international consulting agencies like Dresdner Kleinwort, Freshfields and Colenco Power Engineering have been involved. Summarising Feasibility Study of
Constructing a New Nuclear Plant in Lithuania

Additional information:
Iveri Marukashvili
Communications Specialist
Eesti Energia AS
Tel.: +372 715 1218
GSM: + 372 5341 1813
E-mail: [email protected]