Ignitis Renewables is participating in the tender for a second 700MW Lithuanian offshore wind farm in the Baltic Sea.
The developer 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 eight years.
This means that the investment schedule will not potentially 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.
“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,” said Ignitis Renewables chief executive Thierry Aelens.
He said the company is pursuing Ignitis Group’s goal to increase its green generation capacity from the 1.3GW to 4GW-5GW.
In 2023, Ignitis Renewables and its partner, Ocean Winds, was successful in the first 700MW Lithuanian offshore wind tender.
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, Ignitis Renewables, together with its partner Copenhagen Infrastructure Partners (CIP) was successful in two Estonian tenders for developing offshore wind projects in the Baltic Sea, territories Liivi 1 and Liivi 2.