Published: 2019-08-02 16:16:25 CEST
Energijos Skirstymo Operatorius AB
Notification on material event

Approved ESO investment projects 2020-2023

AB Energijos Skirstymo Operatorius (hereinafter – the Company or ESO), code 304151376, registered office address Aguonų St. 24, Vilnius. The total number of the registered ordinary shares issued by AB Energijos Skirstymo Operatorius is 894 630 333; ISIN code – LT0000130023.

The Company informs, that on 2 of August 2019 the National Energy Regulatory Council (hereinafter – the Council) has approved the Company's investment projects, the total value of which is EUR 30.486 million.

It is planned, that up to 50 percent (EUR 15,243 million) of the sum required for the implementation of the investments will be financed from the EU structural funds (under the program “Modernization and development of electricity distribution networks by implementing smart solutions” (Stage III)). Lithuanian Business Support Agency (hereinafter – LBSA) announced the call for funding on 29 of March 2019. The Company filed the application for funding on 29 of July 2019. LBSA will evaluate the application within three months. The remaining part will be financed by the Company’s own funds. During the implementation of the projects, 13 transformer substations will be renewed, also 27 electricity distribution points will be renewed. It will increase the reliability of electricity supply for about 182 thousand clients.

Transformer substations which are to be reconstructed are worn out, faults often occur. After the refurbishment works, a safer and more reliable supply of electricity will be ensured. The project is projected to reduce technological losses and operating costs.

Arturas Ketlerius, mob. +370 620 76076, email.