Russia to sell off nearly half of Baltic NPP options to Europe in massive fundraiser

Publish date: August 31, 2009

Russia has expressed interest in offering up to a 49 percent stake in the proposed 2,300-megawatt (MW) nuclear power project in Neman, Kaliningrad – the so-called Baltic Nuclear Power Plant – to neighbouring European countries, the news website reported.

The option to buy a stake in the project has been proposed to Poland, Lithuania and Germany, which are expected to receive power from the facility, the website said.  

The nuclear power plant is slated to be located about 15 kilometres from the Russia-Lithuania border and is also close to Poland’s northeastern region.

The power plant, which is still very much in planning stages – is slated to consist of VVER-1000 pressurized water reactors and is expected to provide and electricity supply to areas lacking power-generating sources and infrastructure.

The project is also expected to reduce Europe’s dependence on Russian energy supplies, primarily gas, which Russia has used as a political cudgel in diplomatic disputes primarily with Ukraine. Experts from Poland, Lithuania and Germany will meet soon to discuss the project plan, said.