Lithuania may expect financing for its energy projects from the 315-billion-euro European Fund for Strategic Investments (EFSI, the so-called Juncker Plan), Jyrki Katainen, Vice-President of the European Commission, has said in Vilnius.
Jyrki Katainen
© DELFI / Tomas Vinickas

Prime Minister Algirdas Butkevičius said after the meeting with Katainen that the list of Lithuania’s projects that might be financed from EFSI now consisted of 16 projects, including cogeneration plants in Vilnius and Kaunas as well as GIPL (Gas Interconnection Poland-Lithuania).

“Those are energy projects, the generation of heat and electricity in Vilnius and Kaunas. Also, it could be the GIPL project – the gas interconnection between Lithuania and Poland. We also think that it might probably be possible to cooperate and attract some investment for housing renovation,” Butkevičius told reporters.

Asked whether Lithuania might expect financing for those projects, Katainen said that they appeared suitable.

“They sound to my ears like exactly the kind of projects that would be suitable for EFSI financing, but I want to make sure that the Commission does not select projects,” he told reporters on Friday.

“It sounds like energy connections and the others the prime minister mentioned are exactly in line with the principles of EFSI,” the official added.

The Investment Plan for Europe, which was unveiled last November, is aimed at attracting around 300 billion euros in private investments by establishing the EFSI. The fund is to be built on 5 billion euros from the European Investment Bank (EIB) and 16 billion euros from the EU budget.

The Commission estimates that the guarantee totalling 21 billion euros will help attract 300 billion euros in private funds over three years. Brussels calls on individual member states to contribute as well.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lietuvos Energijos Gamyba initiates a unique pilot project in the Baltics – a battery energy storage system in the Kaunas hydropower plant

Lithuanian state-owned enterprise Lietuvos Energijos Gamyba , a part of Lietuvos Energija Group,...

Lithuania decides to buy out its LNG terminal

The Klaipėda liquefied natural gas floating storage and regasification unit (FSRU) terminal should be...

Lithuania to purchase LNG terminal's vessel amid cost cutting efforts

The Lithuanian government approved on Wednesday the legislation, opening doors for the buyout of the...

Lietuvos Energija is Acquiring a Wind Farm Development Project in Poland

Lietuvos Energija , a group of energy companies, further pursues the international strategy provided...

Latvenergo starts selling natural gas in Lithuania

Latvia's state energy company Latvenergo has started offering natural gas to its customers in...