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THE GOAL OF KORMOTECH IS TO INCREASE THE RENEWABLE ENERGY RESOURCES IN THE FINAL ENERGY CONSUMPTION
In order to optimize production costs and increase investments in production volumes and reduce the negative impact of production processes on the environment and based on the conclusions of the energy consumption audit report, UAB "Kormotech" initiates a project during which it is planned to install energy production capacities using renewable energy resources.
After evaluating the company's electricity consumption and the possible installation locations of the solar power plant, it is planned to install a solar power plant consisting of 4 parts - on the company's production building, a shed above the parking lot and a plot of land. It is planned that the installed power plant will generate about 32% of the total electricity consumption. After evaluating the payback period of the solar power plant, it can be said that it is beneficial for the company to invest in renewable energy resource devices, since after a relatively short period the production costs of UAB "Kormotech" will decrease, the saved funds can be invested in increasing the quality and volume of production and the implementation of other environmental initiatives.
After the implementation of the project, not only the financial benefits for the company are predicted, but also the creation of socio-economic benefits, especially for the residents of Kėdainiai district and surrounding areas: with the growth of the company's competitiveness and the increase in production volumes, more new jobs would be created, higher wages would be paid and better working conditions would be ensured. In addition, the project will promote the increased use of RES in the industrial sector and contribute to increasing the share of RES in the final energy consumption. This will mitigate the negative impact of economic activity on climate change, solve the problem of air pollution, efficient use of resources, and reduce dependence on energy imports.
It is financed under the activity "Encouraging the implementation of renewable energy resources in industrial enterprises" of the economic transformation and competitiveness development program of the Ministry of Economy and Innovation of the Republic of Lithuania, the manager of the 2022-2030 development program.
The total value of the project is EUR 339,033.58.
The funding for the project from the European Regional Development Fund is EUR 200,000.00.
The applicant's and partners' own funds are EUR 139,033.58.
The project is implemented from 2023. July 27 until 2025 July 31