Augstsprieguma Tikls plans to invest EUR 405 million in ten years

  • 2020-10-22
  • LETA/TBT Staff

RIGA - State-owned transmission system operator Augstsprieguma Tikls plans to invest EUR 405 million in development in 2021-2030, the company's representative Aija Ikstena reported.

She said that the Public Utilities Commission has approved the ten-year development plan for Latvia's power transmission system. The most important expenses are related with increase throughput of the transmission system and increase of the Baltic region power supply security with a goal to implement the Baltic states' synchronization program with the continental Europe in 2025.

Augstsprieguma Tikls board chairman Varis Boks said that the power transmission system's development plan is the one of the most important planning documents for the company, defining the necessary investments for the coming years. The plan is closely related with ten-year development plan of European transmission system operators' association ENTSO-E in order to achieve the synchronization goal.

The first phase of the synchronization entails increase of capacity of two existing power lines - from Valmiera to Tartu and to Tsirgulina in Estonia. The total costs of the project are EUR 76 million, including 75 percent as co-funding from the Connecting Europe Facility instrument.

Augstsprieguma Tikls is an independent Latvian state-owned electricity transmission system operator.