These investments are envisaged in an updated draft plan for the implementation of the National Energy independence Strategy in 2012 through 2016. The draft plan, worked out by the Energy Ministry, this week was made available to the public for discussions.

According to the document, which the ministry's officials say is based on Litgrid's estimates, the largest investment, at 707 million litas, in the five-year period will be in the NordBalt electricity cable between Lithuania and Sweden, including an electric current converter at the Klaipeda transformer substation. The cable is expected to be completed in 2015, but final payments with contractors are planned to be made in 2016.

Another 371 million litas will go toward building a 400-kilovolt (kV) double-circuit overhead power line from Alytus to the Lithuanian border with Poland, which is part of the LitPol Link I interconnection.

Some 61 million litas is to be spent on a 330-kV overhead line from Telsiai to Klaipeda, 59 million litas on a 330-kV line from Kruonis to Alytus, 54 million litas on upgrading a 330-kV switchyard at the Alytus transformer substation, 25 million litas on building a 110-kV transmission line from Pagegiai to Bitenai and extending a 330-kV switchyard in Bitenai, and 16 million litas on disconnecting from Russia's IPS/UPS network.

Another 215 million litas is to be invested in projects aimed at increasing the reliability of the transmission grid.

Litgrid plans to spend around 380 million litas on the construction of the LitPol Link II 400-kV overhead power link between Lithuania and Poland in 2017 through 2020.

EPSO-G, a company founded by the Lithuanian Energy Ministry, holds 97.5 percent of shares in Litgrid, which is listed on the NASDAQ OMX Vilnius stock exchange.