Ignitis Renewables Participating in the Second Lithuanian Offshore Wind Tender

Source: www.gulfoilandgas.com 4/15/2024, Location: Not categorized

Ignitis Renewables, an international green energy company, is participating in the tender of the second 700 megawatt (MW) Lithuanian offshore wind farm in the Baltic Sea. The company has submitted the necessary documents and the bid to the National Energy Regulatory Council (NERC), which is organising the tender.

The decision to participate in the second tender is driven by the change in the project implementation schedule. Under the terms of the tender, the project will have to be implemented within 8 years. This means that the investment schedule will potentially not coincide with the implementation of the first Lithuanian offshore wind farm project, which, in the event of a successful tender, will make it financially feasible to successfully implement both projects.

Ignitis Renewables is capable of participating in this tender on its own since the company has won the rights to develop offshore wind projects in Lithuania and Estonia, which satisfy the tender qualification requirements. “Our long-term strategy is to develop projects with reliable and experienced partners, and if we win the tender, we will immediately start the partner selection process,” says Thierry Aelens, CEO at Ignitis Renewables.

He highlighted that the company is pursuing Ignitis Group’s goal to increase its green generation capacity 4 times, from the current 1.3 to 4–5 gigawatts (GW). The pursuit of this ambitious goal does not change the company’s offshore wind development strategy, and the development of wind farms at the Baltic Sea will continue to play a major role in it.

In 2023, Ignitis Renewables and its partner, Ocean Winds, were successful in the first 700 MW Lithuanian offshore wind tender. Currently, the project has already received a permit to use a part of the maritime area for the development and operation of renewable energy capacities. Additionally, the company, together with its partner, Copenhagen Infrastructure Partners (CIP), were successful in two Estonian tenders for developing offshore wind projects in the Baltic Sea, territories Liivi 1 and Liivi 2.

Successful development of wind farms in the Baltic Sea is a very significant step towards regional energy independence. Thanks to such projects, a significant increase in local electricity production from renewable energy sources will diminish the dependence on electricity imports, promote the region’s transition to a sustainable green energy hub and contribute to the plans to turn the Baltic States into energy exporters to Central Europe.

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