The main conditions of the Concession Agreement of Visaginas NPP have been confirmed


2011 12 23


Today the Agreement on the main conditions of the Concession Agreement of Visaginas nuclear power plant (NPP) has been signed in the Government. The Agreement has been signed by Žygimantas Vaičiūnas, the Head of Concession Tender Commission and the Vice-minister of Energy, and Masaharu Hanyu, the Vice-president of Strategic investor Hitachi, Ltd.

This Agreement lays down the content of the Concession Agreement and its components. The Agreement defines the key principles that will be followed with the regional partners during the process of concluding the Concession Agreement. The Concession Agreement will be presented for the verification of Parliament during its spring session. This Agreement will be public.

„Today we are recording the results of intensive half-year negotiations. This is an intermediate point. The Agreement on the key principles and provisions of the Concession Agreement has been reached”, Ž.Vaičiūnas, the Vice-minister of the Energy, said.

„We are very pleased that we have signed today the agreement on the main terms for the Concession Agreement for Visaginas NPP project. Hitachi understands the importance of this project and we are committed to make our best efforts to conclude the Concession Agreement on agreed time”- said Masaharu Hanyu, Vice President and Executive Officer of Hitachi, Ltd.

From the 14th of July of the present year, when the company Hitachi was selected as the strategic investor, in addition to the intensive negotiations, other preparation works of the project have been carried out. In line with the requirements, established in Article 41 of the EURATOM Treaty, the notification on the project of Visaginas nuclear power plant was officially submitted to the European Commission. The largest American electricity infrastructure company Exelon Nuclear Partners, LLC has joined the project of Visaginas NPP as the Owner Engineer. The specialists of Hitachi, Ltd and JSC Visagino atominė elektrinė with an active involvement of the experts of regional partners have concluded the preparatory engineering works.

These works and other tasks, completed within very short period of time, show the continuous commitment of the participants of Visaginas NPP to implement this project of strategic importance duly and in time.