According to Lietuvos Energija, the capital increase is a planned decision and is due to its obligations to the Lithuanian Business Support Agency, the administrator of allocations from EU Structural Funds.
The Vilnius CHP plant project has secured up to 140 mln euros in support from the European Commission and a long-term loan of up to 190 miln euros from the European Investment Bank. Vilniaus Kogeneracine Jegaine also uses its own funds to finance the project.
The biomass and waste-fired facility with an installed capacity of 92 megawatts of electricity and around 229 MW of heat energy is planned to launch commercial operations in the first half of 2020.
