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Project Assumptions

At the end of 2009 Lithuania closed its last nuclear reactor, Ignalina Nuclear Power Plant (INPP), which had been generating around 70% of the country’s electricity. Since the closure of INPP electricity imports have increased to more than 60 %, and states fuel for energy production balance is being dominated by supply from one source: Russia. In order to ensure states energy supply security it is necessary to increase the competition and reduce the dependence on single supplier/supplier country.

Since the demand for electricity is increasing and the obsolete, polluting fossil fuel power plants will have to be decommissioned by 2016, the demand for electricity will greatly exceed the supply. New electricity generation capacities are also needed when trying to integrate into another energy system as the countries have to be independent, i.e., possess sufficient and competitive electricity generation sources.

Taking into consideration all the factors, the needs of the Baltic States and their strategic goals, the new Visaginas NPP was acknowledged as the best alternative for electricity generation. The new NPP technology will ensure CO2 free base generation of electricity, together with renewable energy sources and Lithuania's new energy block will form a sufficiently distributed portfolio of energy generation.

Investment in to nuclear energy is more favorable in comparison to energy sector based on energy resources import because:

•               It ensures security of energy supply;

•               It is an investment into advanced technologies and high added value production;

•               It significantly adds to the fulfilment of commitment to reduce carbon dioxide emissions;

•               It is an opportunity to utilize an existing infrastructure rationally;

•               New well paid job places are being created – significant impact to the regional economy and social environment.