On December 17, 2010 Swedish and Lithuanian electricity transmission system operators Svenska Kraftnät and LITGRID Turtas AB signed a contract valued at EUR 270 million (LTL 932 million) with ABB company, which will manufacture and install a 300 kV HVDC cable for the electricity interconnection NordBalt.
On December 20, 2010, a contract for construction of converter stations for the electricity interconnection NordBalt was signed in Stockholm. The ABB company, which was awarded a contract, will manufacture and install current converter stations in Nybro (Sweden) and Klaipėda. The contract is valued at EUR 147 million (LTL 507 million).
The international public tenders were held in accordance with the Swedish public procurement law. The tenders were performed by the transmission system operators of Lithuania and Sweden.
The European Union has approved the financial support of EUR 175 million to NordBalt project. The bulk part of these funds - EUR 131 million will be used for the construction of the link, the rest – for the reinforcement of Latvian electricity transmission system.