EPSO-G group of energy transmission and exchange companies presented a new Group strategy going towards 2035. The directions of the strategy, which allow the creation of infrastructure of the future, strengthen Lithuanian energy independence, enable decarbonization, open up export markets and ensure system reliability and security. Strong emphasis is placed on cross-sector partnerships and sustainability.
By 2035, the EPSO-G Group plans to invest 7–9 billion EUR in strengthening Lithuania's energy independence and developing the infrastructure of sustainable energy resources. The main investments are planned for synchronization with the Continental European Networks (CEN), strengthening of the existing electricity network and expansion of interconnections, as well as for natural gas network and new projects – hydrogen and carbon dioxide networks, long-term energy storage and energy center – the infrastructure that opens up the potential of the region's renewable resources.
"Development of renewable energy strengthens Lithuania's energy independence, enables decarbonization, also promotes long-term investments and changes the entire energy system. Planned projects in our country and in the region open opportunities for Lithuania to become an exporter of green energy. We aim to create a new energy system adapted to the needs of the future, speed up electrification and cross-sector integration," Mindaugas Keizeris, CEO of EPSO-G, said.
In the new energy strategy, the EPSO-G group will strengthen Lithuania's energy independence by developing the infrastructure of the future, ensuring the safety and reliability of the energy sector, and being a reliable partner.
"We consider the transformation of the energy sector to be one of the fundamental changes in our country. We will build infrastructure that will be the basis of a climate-neutral energy system. At the same time, we will strive to increase the flexibility of the system, ensure reliability and resilience, thus contributing to national security. We also understand that such energy transformation requires close cooperation between representatives of various businesses and industries, investors and authorities. Therefore, we will continue to strive to remain reliable partners of both the governments and businesses, developing environmentally friendly infrastructure and solutions", notes M. Keizeris.
The role of both current and future specialists is extremely important in the strategy, so the EPSO-G Group focuses on a unified Group culture, identity and ensuring our people grow. "Our success is determined by expertise, continuous growth and the ability to operate in a changing environment. We are stepping into new areas that require expanding our existing competencies. Therefore, we must be an attractive employer that is willingly chosen by Lithuanian and international talents", says M. Keizeris.
EPSO-G Group, in order to maximize the energy potential of renewable resources both within the country and in the Baltic Sea region, plans to expand the biomass market, maintenance and construction of energy infrastructre activities, also to share the experience we have gained over the years by providing consulting services. The Group also plans to enable the installation of a network of high-power, ultra-fast chargers for heavy-duty transport, to accelerate the connection and integration of renewable energy and flexibility resources.
In the new strategy of EPSO-G group, the most significant part of the capital investment will be the strengthening of our existing electricity transmission infrastructure, capacity increase, new connections, optimization of the gas transmission infrastructure, as well as the creation of new hydrogen and carbon dioxide networks, long-term energy storage and energy center infrastructure. EPSO-G Group aims to maintain sustainable finances and a strong financial position by making strategic investments in energy security. Mixed sources of equity and loan capital will be used for the implementation of the projects, while maximizing the attraction of support from EU funds and developing partnerships. This will allow the Group to secure financing even in the case of the implementation of long-term regional projects that require a lot of capital, and to further increase the value for the shareholder – the state – and thus create benefits for the Lithuanian economy.
"The goals of our strategy ensure not only Lithuania's energy independence and climate neutrality, but also open opportunities to contribute to the growth of the entire region, creating benefits for the state, residents and businesses. Energy transformation and available resources create favorable conditions – it increases the competitiveness of the entire country, attracts investments, creates new jobs, and all this leads to GDP growth", says M. Keizeris, CEO of EPSO-G.
The EPSO-G group of companies consists of the holding company EPSO-G and its six direct subsidiaries Amber Grid, Baltpool, Energy cells, EPSO-G Invest, Litgrid and Tetas. EPSO-G and the Group companies also own shares in GET Baltic, Baltic RCC OÜ and TSO Holding AS. The rights and obligations of the sole shareholder of EPSO-G are implemented by the Ministry of Energy of the Republic of Lithuania.