LITGRID
Litgrid borrows from European Investment Bank
DGAP-News: LITGRID 19.12.2014 / 08:00 --------------------------------------------------------------------- Vilnius, Lithuania, 2014-12-19 08:00 CET (GLOBE NEWSWIRE) -- On 18 December 2014, the Lithuanian electricity transmission system operator Litgrid and European Investment Bank (EIB) signed an agreement on 65 million euro loan for a maximum period of sixteen years. The funds will be used to partially finance implementation of LitPol Link project and the new power line from Alytus to Kruonis PSHP (Pumped Storage Hydroelectric Plant). The LitPol Link project is a part of Baltic Energy Market Interconnection Plan (BEMIP) aimed at connecting the energy systems of the Baltic Sea region countries and eliminating energy islands in the European Union by the end of 2015. Linking the power systems of Lithuania and Poland, LitPol Link will start operating at the end of December 2015. The new overhead power line Alytus-Kruonis PSHP will ensure maximum use of the Lithuanian-Polish interconnection. The EIB is the European Union's bank, the only bank owned by and representing the interests of the European Union Member States. As the largest multilateral borrower and lender by volume, the EIB provides finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. Vilija RailaitÄ— Head of Communications Phone +370 5278 2361 Mobile +370 613 19977 E-mail vilija.railaite@litgrid.eu News Source: NASDAQ OMX --------------------------------------------------------------------- 19.12.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: LITGRID Lithuania ISIN: LT0000128415 End of News DGAP News-Service --------------------------------------------------------------------- 307357 19.12.2014
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