The Japanese are shutting down their nuclear plants but are building one in Lithuania

The Japanese are shutting down their nuclear plants but are building one in Lithuania

Overwhelming support given for Lithuania’s nuclear plant

Lithuania’s parliament has approved the building of the projected Visaginas nuclear power plant (NPP) and the concession agreement with the Japanese company Hitachi

It has been estimated that the Visaginas NPP project’s value amounts to 17 billion litas. Lithuania’s share in it will be 6 billion litas. It is planned to start building the plant in 2015, and launch it in 2020-2021.
In December, Poland withdrew from the project. Currently, Lithuania, Latvia, Estonia and the strategic investor Japanese company Hitachi are members of the project.

Deputy Minister of Energy Zygimantas Vaiciunas said that, among the European countries, Lithuania is the most dependent on imports from third countries, as we import over 70 percent of our consumed electric power.
“After choosing Japanese Hitachi as a strategic investor in the Visaginas NPP, there has emerged an opportunity to receive some loans from Japanese and American export credit agencies for longer terms than suggested by commercial banks. It could increase the Lithuanian investments’ returns,” said Director General of the Visagnas NPP Rimantas Vaitkus.

Sources:
baltictimes