* To supply power link between Sweden and Lithuania
* Order is ABB's second largest order this year
* Helps link Baltic states to western power markets
* Shares rise 1 pct, outperform Swiss index
(Adds details, background)
ZURICH, Dec 20 Swiss engineering group ABB
ABBN.VX has clinched an order worth some $580 million, its
second-largest this year, from Sweden's Svenska Kraftnaet and
Lithuania's LITGRID Turtas AB, linking the Nordic and Baltic
ABB will design, engineer and supply two 700 megawatt
converter stations, two 300 kilovolt underwater cables, each 400
kilometres long, as well as land cables in Sweden and Lithuania,
the group said on Monday.
The news comes as the Baltic states seek to increase their
energy sources and decrease dependence on Russia.
ABB said it expected the project, which will be supported by
European Union funding, to be completed by the end of 2015.
ABB delivered the Estonia-Finland Estlink, the first
interconnection between the Nordic and Baltic energy markets, in
At 1411 GMT, ABB shares were trading nearly 1 percent
higher, outperforming a slightly stronger Swiss market .SSMI.
Lithuania's grid operator had already said on Friday that
ABB would produce and install a 300 kilowatt cable for the
NordBalt power interconnection in an order worth 270 million
euros ($355.3 million). This accounts for one part of the
overall contract. [ID:nLDE6BG0NZ]
(Reporting by Katie Reid; Editing by Louise Heavens)