On 5 December the Energy Minister Arvydas Sekmokas declared that Lithuania is inviting investors to the largest Greenfield investment in the Lithuanian history.  He announced a call for investments into the project of a new nuclear power plant.

“We cleared up the stage from the old legacy for a new nuclear power plant to a strategic investor and its constructors. Now everything is clear, the stage for a new nuclear power plant construction is ready “, – The Minister of Energy said to the press a day before.  The Minister referred to the ‘peace treaty’ between the private investor and the state, which allows liquidating the LEO LT company and, and clears that way of building a new nuclear plant in Ignalina.

On 5 December Mr Sekmokas agreed on the terms and conditions of a tender on a concession for the construction, management, development and design of a new Lithuanian nuclear power plant in Ignalina. The concession tender commission passed a decision to announce a call for investments into this project.

The Minister stated “We have made a very important step today. It means that Lithuania is inviting a strategic investor to implement the new nuclear plant project together. The project is particularly important for Lithuania and the whole region since the new nuclear power plant will contribute to the implementation of the key provisions of our energy policy – it will guarantee energy security, reduce our dependence on the sole gas supplier and will contribute to the implementation of our commitments to reduce the carbon dioxide emissions by 20 percent by 2020. Moreover, it should be noted that the new nuclear power plant will be the largest Greenfield investment in Lithuania’s history, a huge impetus for Lithuania’s economy,” Sekmokas said.

The call will be published in the official magazine Valstybes Zinios and the Official Journal of the European Union.

Earlier this week, Mr Sarunas Vasiliauskas, a Nuclear Plant Project manager said to Baltic News Service that Lithuania would like to a strategic investor with enough funds and experience in nuclear energy.  He said, ‘Usually such projects are not implemented by reactor producers, however, it may happen that bids are submitted by a consortium of [such] companies.’  He continued saying that talks with the Baltic States and Poland and the strategic investors should be finalised ad the deals should be inked in 2010.

Design works would take about two years and the construction of nuclear reactors – about six years.

The new nuclear facility is expected to launch electricity generation in 2018-2020.  The New Nuclear Plant should cost between three and five billion Euro.