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LitPol Link company completed its mission. PSE and Litgrid will cooperate directly

Lithuanian electricity transmission operator LITGRID AB  informs that PSE and Litgrid, the only shareholders of the LitPol Link subsidiary, decided to liquidate the company on 20 June 2019.  The mission of the administration company – to implement the first Poland-Lithuania interconnection - was successfully completed: the interconnection has been successfully operating since 2016, when it started functioning. PSE and Litgrid, basing on the positive previous experiences, will cooperate directly on the construction of the second interconnection - the submarine cable Harmony Link.
A joint subsidiary LitPol Link was established on 19 May 2008 by Litgrid and PSE. Each of the two shareholders holds exactly 50% shares.
The mission of LitPol Link was to prepare and complete the project of Polish-Lithuanian interconnection. The project was completed in 2015 and the company completed its task. Shareholders decided to suspend the Company’s operations on 28 September 2016, until further plans for the synchronization project of the Baltic States become clear. A political agreement on this matter was concluded in 2018 and 2019 by Poland, Lithuania, Estonia, Latvia, and European Commission.
PSE and Litgrid are currently working on the implementation of Harmony Link project – submarine interconnection between Poland and Lithuania. Harmony Link is one of the elements needed to synchronize the electric system of the Baltic States with Continental Europe system. On 21 December 2018, Litgrid and PSE signed an Initial Cooperation Agreement, established project teams and the Steering Committee. Using the experience gained during the implementation of the LitPol Link project, PSE and Litgrid decided that direct collaborative work will be more cost and time effective and it will provide full transparency of the whole process.
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