Brussels, 14/05/2014 (Agence Europe) - A large scale project for building an electricity grid between Poland and Lithuania will be financed by the European Regional and Development Fund (ERDF). The European Commission confirmed that an investment of €60 million from this fund can be used to complete the construction.
This project is particularly important because as well as guaranteeing electricity supplies between the two countries, it will also help complete the European energy market by integrating the electricity energy markets of Poland and the Baltic States. The total investment for the construction is estimated at €193.7 million and it is expected to be implemented by October 2015.
The European Commissioner for Regional Development, Johannes Hahn, gave his approval for European funding for this project and pointed out that this kind of project addressed the question of the reliance on external power exports and it was “of great strategic importance to develop the connection between Poland and Lithuania”. (MD)