VILNIUS – Lithuania's Ministry of Energy, US company NET Power and energy innovation company 8 Rivers Capital have signed a memorandum of understanding on a feasibility study for a zero-emissions power generation project.
This study will thoroughly evaluate all the technical and economic aspects of a zero-emissions 300 MW gas power plant, the ministry said.
8 Rivers Capital offered to implement the power plant project under market conditions, i.e. without financial support from the state. The feasibility study is scheduled to be completed in six months. Financing will include support of US companies and funds.
According to the ministry, last year, researchers from the Kaunas University of Technology conducted a study which showed that in the near future, the development of reliably available and effective local capacities will be necessary in Lithuania in order to ensure reliable operation of the electric power system and security of electricity supply by 2030.