The project “Investments to the security of supply of the joint-stock company Nuia PMT” received a grant from the European Union’s recovery instrument NextGenerationEU.

Project Summary:

The implementation of the project is necessary to increase the company’s security of supply. The aim of the project is to reduce the company’s dependence on fossil fuels. To achieve this goal, a solar power plant with an electricity storage system will be constructed. As a result of the project, the consumption of electricity produced from fossil fuels and drawn from the power grid will be significantly reduced, and the company’s security of supply will improve.

Project Objective and Outcome:

The objective of the project is to reduce the company’s dependence on fossil fuels and to support the transition to renewable energy sources, thereby significantly increasing the company’s security of supply.

Solar Power Plant

To achieve the project’s objective, a solar power plant will be constructed to partially cover the company’s electricity consumption needs and thereby reduce the consumption of electricity produced largely from fossil fuels and supplied by the power grid. The construction of the solar power plant will reduce the impact of high electricity prices on the company’s operations and ensure greater competitiveness. As a result of the project, the company’s dependence on electricity supplied through the power grid will decrease, improving the company’s security of supply.

Energy Storage Technology

To achieve the project’s objective, electricity storage systems will be acquired, enabling the storage of locally produced electricity when production exceeds consumption needs, or the storage of electricity during lower-price periods so that cost-effectively stored electricity can be used during higher-price periods. Storing electricity produced on-site from renewable energy sources makes it possible to reduce the consumption of electricity supplied from the power grid that is largely produced from fossil fuels. The implementation of storage systems will reduce the impact of high electricity prices on the company’s operations and ensure greater competitiveness. As a result of the project, the company’s dependence on electricity supplied through the power grid will decrease, improving the company’s security of supply.