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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF LITHUANIA  >  Amber Grid    AMG1L   LT0000128696

AMBER GRID

(AMG1L)
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Amber Grid : concluded a transaction of nearly Euro 1 million on installation of solar parks

10/26/2020 | 02:55am EST

Gas transmission system operator Amber Grid and commercial solar power plant contract company Eternia Solar signed an agreement on installation of solar power plants in the territories of Amber Grid. The value of the agreement on installation of approximately 1 400 kW power solar energy facilities by the end of 2021 is EUR 980 000. Upon completion of the installation of the solar energy parks, Amber Grid will become electricity producing consumer generating nearly half of electricity from renewable sources for its own needs.

'We start green energy development from ourselves. Producing renewable energy for the needs of the Lithuanian gas transmission system, we will make our contribution into clean environment creation and the strategic choice of Lithuania to increase the share of renewable energy sources in the energy sector. This step will enable significant cut in the company's costs of electricity used in its operation', said Amber Grid CEO Nemunas Biknius.

Objects controlled by Amber Grid, i.e compressor stations, gas distribution and accounting stations consumer approximately 3 gigawatt hours (GWh) electricity per year. It is estimated, that the company will generate about 1.3 GWh green energy for its needs per year. It will account for approximately 40 per cent of the total demand for electricity of the company.

'We are proud of being a partner of Amber Grid in implementation of this ambitious large-scale project. Having chosen the latest double-sided solar panels technology for its power plants and solar tracking system for a part of the power plant, Amber Grid will be among the most progressive producing consumers in the country. Although we have already installed 70 per cent of the commercial solar power plants of the country, including the largest projects mounted on the roofs and on the ground, this project is one of the most complex and modern', commented Eternia Solar Executive Director Dr. Andrius Džiaugys.

Solar energy will be generated in three objects of Amber Grid located at Gudelių street in the outskirts of Vilnius; Jauniūnai gas compressor station in Širvintai District and in the territory of gas compressor station in Piniava, near Panevėžys. In the latter two objects, power plants of 500 kilowatt (kW) capacity each will be constructed, and a power plant of up to 450 kW will be installed in Vilnius. Electricity generated by solar power plants will be used in the latter objects to satisfy the demand for consumed electricity. Modules of the solar power plants will be fitted on the roofs of the company's buildings and on the ground in the production territories.

Installation of the solar plants is another initiative of Amber Grid contributing to the green energy development promotion. In 2019, the operator founded and administers the national guarantees of origin register of gas produced from renewable energy sources. The guarantees of origin system enables identification, registration and monitoring of origin of gas produced from RES. The operator is actively researching the possibilities to install demonstration Power-to-Gas facilities to convert excess electricity generated from renewable energy sources into hydrogen and supply it to the gas transmission network. Besides, efforts are exerted to create favourable conditions for connecting renewable gas - biomethane production facilities to the gas transmission systems.

Disclaimer

AB Amber Grid published this content on 26 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 October 2020 07:54:01 UTC


© Publicnow 2020
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Financials
Sales 2019 54,8 M 66,1 M 66,1 M
Net income 2019 11,8 M 14,3 M 14,3 M
Net Debt 2019 73,6 M 88,9 M 88,9 M
P/E ratio 2019 14,8x
Yield 2019 -
Capitalization 184 M 222 M 222 M
EV / Sales 2018 5,19x
EV / Sales 2019 4,54x
Nbr of Employees 324
Free-Float 3,42%
Chart AMBER GRID
Duration : Period :
Amber Grid Technical Analysis Chart | AMG1L | LT0000128696 | MarketScreener
Income Statement Evolution
Managers and Directors
NameTitle
Nemunas Biknius Chief Executive Officer
Algirdas Juozaponis Chairman
Gytis Fominas Chief Financial Officer
Andrius Dagys Technical Director
Sigitas Žutautas Independent Director
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