All agreed loans

Lithuania. AB Rytų Skirstomieji Tinklai

Date of loan: 17 Sep 2008
Country: Lithuania
Customer: AB Rytų Skirstomieji Tinklai
Amount in EUR: EUR 15 million
Maturity: 10 years
NACE sector / loan type: Electricity, gas, steam and hot water supply
Business area: Energy and environment

Project

The 10-year-maturity loan totalling EUR 15 million has been provided for financing AB Rytų Skirstomieji Tinklai's (RST) annual investment programme. RST is the operator of the electricity distribution network in eastern Lithuania, including Vilnius.

The investment programme includes the construction and reconstruction of transformer substations and distribution points as well as the development of a network management system, which will enable the company to control the main equipment of the network by remote control.

RST was founded in December 2001 after the reorganisation of Lithuania's energy utility Lietuvos Energija. The company's main shareholders as of 27 May 2008 were LEO LT (61,7% owned by Lithuania's government) with 71,4% shares, and E.ON Ruhrgas International AG with 20.28%.

Sustainability summary

The activities included in RST's investment programme will have little or no effect on the environment. All the projects have to comply with national and EU laws and directives and receive the necessary permits.