VILNIUS- The executives of Lithuanian, Polish, Latvian and Estonian energy companies agreed at a meeting on August 12 in Helsinki to further smooth out the terms and conditions of cooperation agreement at a meeting due to take place in Vilnius on Sept. 25.
"At the meeting, we continued to harmonize the terms and conditions of the agreement, the terms for the partners to join Visagino Atomine Elektrine (Visaginas Nuclear Power Plant), the company due to make the arrangements for the nuclear power plant project, other issues," Rymantas Juozaitis, chairman of Lithuania's national investor company Leo LT, said in a statement.
On Jul. 25 the executives of Polska Grupa Energetyczna, Latvenergo and Eesti Energija agreed with Leo LT proposal to establish a joint venture for the arrangements of the N-plant project. In line with the proposal, Leo LT would own a 51 percent stake in the venture.
In the future, partners would establish a joint venture for the management of the plant. As reported previously, Leo LT should own a 34 percent interest in the venture, while Polska Grupa Energetyczna, Latvenergo and Eesti Energija would own a 22 percent stake each.
Lithuania seeks to build power links with Poland and Sweden in 2013-2016 and construct a new nuclear power plant in partnership with neighboring countries in 2015-2018.
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