Lithuania selects Hitachi, GE for the new Visaginas Nuclear Power Plant Project

Source: Ministry of Energy of the Republic of Lithuania

The Lithuanian Ministry of Energy announces that the Concession Tender Commission (the Commission) for the Strategic Investor in the Visaginas Nuclear Power Plant (NPP) Project selected Hitachi Ltd. together with Hitachi-GE Nuclear Energy Ltd. (Hitachi) as the Strategic Investor.

As previously announced, the Commission received two Proposals to invest in Visaginas NPP Project, which met the stated requirements. After a period of clarification of both Proposals, the Commission met to draw the evaluation conclusion regarding both Proposals. The Commission determined the Proposal from Hitachi as the most economically advantageous and has selected Hitachi as the Strategic Investor for the Visaginas NPP Project.

The evaluation of the Proposals to determine the most economically advantageous one, encompassed analysis of economic, legal and technical aspects and, among other factors, included consideration of the level of equity commitment offered, commitment to undertake activities to advance the Project prior to signing the concession agreement, evidence and ability to deliver the Project on budget and on time, and evidence and ability to manage development, construction, operation and decommissioning of NPP.

The regional partners from Estonia, Latvia and Poland participated in the consideration of both Proposals.

The Ministry of Energy and Hitachi are targeting to sign the concession agreement by the end of the year and to commission the Visaginas NPP by the end of 2020. Hitachi has agreed to start the significant preparatory works for the granting of the concession from now.

Hitachi offered as part of its Proposal to provide an Advanced Boiling Water Reactor (ABWR), the only generation III nuclear reactor with a proven operational track record around the world, with an enhanced level of safety.

Once operational the Visaginas NPP will add about 1300MW of low-carbon power capacity and will significantly enhance the security of energy supply in Estonia, Latvia, Lithuania and Poland.

The regional Visaginas NPP project is one of the most advanced new nuclear developments in Europe. The preparatory works of the Project have already been completed, including environmental impact assessment and site suitability evaluations, the results of which have obtained positive IAEA evaluations.

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