Lietuvos Energijos Gamyba has updated its business strategy: the key direction until 2030 – strategic power generation

THE KEY DIRECTION OF STRATEGY OF LIETUVOS ENERGIJOS GAMYBA UNTIL 2030 – STRATEGIC POWER GENERATION Lietuvos Energijos Gamyba (LEG), which belongs to Lietuvos Energija group of energy companies (the Group), has revised its strategy. The main focus in the Strategy is on the...

THE KEY DIRECTION OF STRATEGY OF LIETUVOS ENERGIJOS GAMYBA UNTIL 2030 – STRATEGIC POWER GENERATION

Lietuvos Energijos Gamyba (LEG), which belongs to Lietuvos Energija group of energy companies (the Group), has revised its strategy. The main focus in the Strategy is on the principal activity of LEG – the strategic power generation, as a basis for achieving the goals of growth of the whole Group.

The Strategy of LEG has been revised in observance of strategic directions of the whole Group defined by Lietuvos Energija in the Strategy LE 2030. It was introduced in May 2018.

'The main goal for LEG is to contribute to successful synchronisation of the Baltic States with the networks of continental Europe, while maintaining reliable local generation of electricity and developing new generation capacities in Lithuania', – says Dominykas Tučkus, the Chairman of the Supervisory Board of LEG, the Board Member and Infrastructure and Development Director of Lietuvos Energija.

According to Mr. Tučkus, the Company will have to maintain speed and flexibility, engaging the available infrastructure and competences for the implementation of innovative ideas and exporting the acquired competences and know-how to regional power reserve market.

The strategy also provides that in implementing its main role – ensuring the reliable and effective strategic power generation – LEG will also significantly contribute to the implementation of the Strategy LE 2030 in the direction of green energy and by implementing innovations.

'In the light of priorities of the Strategy LE 2030, in the revised strategy of LEG we established the continuity of what we have been doing over the last several years by providing the services necessary for the security of energy system and supplemented it by actions which we have to implement in order to develop, in the long run, into a competitive international energy generation excellence centre', – says Eglė Čiužaitė, the Chairwoman of the Board and CEO of LEG.

The Strategy of LEG provides for 10 strategic solutions – the particular projects and areas of activities planned for 2019–2030. In order to provide quality services, cooperation under the synchronisation project which is of particular relevance for Lithuania and preparation for and participation in foreign power reserve markets, are highlighted among them.

LEG is planning to contribute to the development of green energy by using its available capacities of hydropower plants, developing and offering to the market the services of maintenance of generation facilities from renewable energy sources.

In the sphere of innovations, the pilot projects of solar power plants and energy storage projects within the available infrastructure are planned already.

The implementation of Elektrėnai Complex management works programme also remains significant for the Company by giving up old and ineffective facilities and dismantling unused stacks.

The Company will continue to maintain the LEAN management system and the culture of continuous development, digitize processes, strengthen cyber security and take care of the development of staff competencies relevant to the implementation of the strategy LE 2030.

It is planned that investments of LEG will constitute a significant part of EUR 600 million which LE Group is planning to invest until 2030 into production facilities on both the existing and new industrial platforms. The financial result of strategic generation (EBITDA) is planned to reach up to EUR 60 million during this period.

Last time the Strategy of Lietuvos energijos gamyba was revised in autumn 2016.

Valentas Neviera, Head of Communication Division, tel. +370 670 25997, e-mail. [email protected]

Attachment

• LEG Strategy 2019-2030