Visaginas NPP Project

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1 Visaginas NPP Project Platts 8 th Annual European Nuclear Power Conference June 26-27, 2013 Warsaw Dr. Rimantas Vaitkus CEO, Visagino atominė elektrinė, UAB

2 LT2009 LT2010 LT2011 LT2012 Lithuania is one of the Most Dependent on Electricity Import in EU 65% 64% 62,1% -30,7% EUROSTAT, 2010

3 Lithuanian Power System Balance Lithuania electricity supply in 2012 TSO Litgrid data, 25 th June, 2013 ~64 % electricity import from 3 rd countries and imported fossil fuel generation

4 Rationale of Visaginas NPP Project Energy security Diversification of energy mix EU environmental goals Visaginas NPP Nord Pool Spot

5 Visaginas NPP- Advanced Nuclear Development in Europe Sites are suitable for the construction of new NPP conclusion of IAEA experts. Environmental impact assessment is in accordance to international standards conclusion of IAEA expert mission. Other development works are completed: Selection of the Strategic Investor, initiation of the Concession Agreement The European Commission has issued its opinion on the Visaginas NPP in accordance with EURATOM Treaty Article 43 Preparation and approval of 70 legal acts by the Government and Parlament Selection of transportation routes Radioactive waste handling program Territory planning Supply Chain Study State Nuclear Power Safety Inspectorate (VATESI) is expected to issue the final Site approval in III Q, 2013.

6 Visaginas NPP Project Structure

7 Visaginas NPP Sites and TechnologyNPP Sites In July of 2011 Hitachi Ltd. together with Hitachi-GE Nuclear Energy Ltd. were selected as the strategic project investor and technology provider. The chosen technology is the III+ generation 1350 MWe general capacity Advanced Boiling Water Reactor ABWR. Ignalina NPP (closed in 2009) Two suggested alternative sites for the Visaginas NPP

8 Visaginas NPP Project Timeline Negative consultative referendum followed by national energy strategy review and conditional decision to continue with the project Preparatory works Preconstruction development years VAE EPC (Hitachi-GE NE) Construction, testing O&M support Project Company NPP operation Decommissioning >10 years 1. Preparatory activities: Technical preparatory activities, regulating and licensing, 2007 appropriate legal and investment environments Organization for direct negotiations and selection of strategic investor 2. Pre-construction period Establishment of the Project company Detailed plant designing activities Preparatory activities for equipment ordering necessary for reactor construction Licensing works 1. 3 Construction process Main haul road construction and the end of rout construction Construction activities >10 years Systems testing, adjustments, testing, FSAR preparation and adjustment 2. 4 NPP exploitation New nuclear power plant control 3. 5 Decommissioning Decommissioning activities Utilization of the decommissioning fund

9 Visaginas NPP Up-to-date The advisory referendum regarding the construction of a new NPP in the Republic of Lithuania took place on 14 th October 2012 Lithuanian Government s conclusion regarding continuity of Visaginas NPP with following conditions: - sharing the project implementation expenses, responsibilities and risks between potential investors - to ensure project financing at the lowest costs from international financial instruments - to ensure public awareness given there is a national political agreement on energy strategy The Government is having consultations with potential investors to make a decision on the project continuity by 1 st October 2013