Offshore wind
Offshore wind

In order to implement the objectives of increasing electricity generation in Lithuania set out in the National Energy Independence Strategy, the role of offshore wind becomes increasingly important. The research suggests that Lithuanian offshore potential amounts to 4.5 GW, and it would easily cover the electricity demand of the entire state. Lithuania sees a huge potential in installing such farms in the Baltic Sea, therefore, the tender for a 700 MW wind farm development in the Baltic Sea is planned for the second half of 2023.

In order to prepare for the tender properly, Ignitis Group has concluded a strategic partnership with Ocean Winds (a joint EDP Renewables and Engie company), which has extensive experience in the field. The company is currently managing assets with a total factual capacity of 1.5 GW, and the capacity of the projects under development amounts to almost 10 GW. If Ignitis Group succeeds to win the tender, it would own 51% of the project, and the strategic partner Ocean Winds – 49%.

Under preliminary estimates, investments into such project may reach up to EUR 2 billion.

 

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