Just a few days after opening a 135-million euro backup electricity power plant complex, electric grid operator Elering announced another large investment, saying it will receive 112 million euros from the EU to build a third power connection to Latvia.
Elering CEO Taavi Veskimägi said that they hoped to get 75 percent of the project cost paid for by the EU, but the 65 percent, meaning the entire project will cost around 170 million euros, is also satisfactory.
“It is in Estonia's long-term strategic interest to completely switch off from the Russian sphere of influence. For this, additional connections between Latvia and Estonia are needed. Latvia will create a new link to Lithuania, and Lithuania to Poland,” Minister of Economics and Infrastructure, Urve Palo, said.