Amber Grid's 3.3 Billion Euro Investment in Renewable Energy Infrastructure
Key Ideas
- Amber Grid, the Lithuanian gas operator, plans to invest 3.3 billion euros by 2035 in renewable energy infrastructure, including a green hydrogen corridor.
- The investment will focus on developing a CO2 transportation ecosystem and upgrading the gas transmission network for increased resilience.
- Funding will primarily come from EU and international funds, in addition to optimizing the company's debt and equity capital structure.
- The CEO highlighted the importance of gas as an energy resource for Lithuania, the region, and Europe in the coming decade.
Amber Grid, the gas transmission system operator in Lithuania, has approved a strategic plan that involves investing up to 3.3 billion euros by 2035. The majority of this investment will be directed towards new infrastructure to support the development of renewable energy, with a specific focus on creating a green hydrogen corridor. Additionally, the plan includes the establishment of a carbon dioxide (CO2) transportation ecosystem, as well as upgrades to the existing gas transmission network to enhance its resilience. Nemunas Biknius, the CEO of Amber Grid, emphasized the significance of gas as an energy resource for Lithuania, the region, and Europe for the foreseeable future. The financing for these investments will be sourced from a combination of EU and international funds, along with strategic adjustments to the company's debt and equity capital structure. This move underscores a commitment to sustainable energy practices and positions Amber Grid as a key player in the transition towards a greener energy landscape.