Wind turbines will be more expensive to Lithuania than energy from BelNPP

Sergei Kondratiev, Deputy Head of the Economic Department commented to Sputnik Radio (Lithuanian editing) on developing renewable energy in Lithuania.

In an interview with Sputnik Lithuania, Senior expert at the Institute for Energy and Finance, Sergei Kondratiev said, that the project could be technically good enough, as an offshore power plant usually has more sustainable electricity generation.

“In this regard, such offshore wind farms are more promising, and, in principle, bring correspondingly more income to investors, but I must say that they are more expensive in operation and, of course, in construction than traditional wind farms. And in this regard, of course, Lithuania will not be easy to implement this project. It will either need to attract the resources of third-party, private investors and, accordingly, then guarantees of capital return or to attract funds from European infrastructure funds," he said.

According to Kondratiev, if the project is implemented, Lithuania can count on getting new jobs and new tax revenues. In addition, it is likely to be promoted by political elites.

"But if we talk about the price component, about the economic component, then, of course, this project will probably be much more expensive than buying electricity by import both from Russia and from the Belarusian NPP, and even, in fact, from the Nord Pool market or from Poland. And here, of course, the question is that in the end it will still fall on the shoulders of consumers," the expert said.