Ignitis Renewables, a subsidiary of a renewables-focused integrated utility Ignitis Group, and Ocean Winds have been announced as provisional winners of the tender for the 700MW Lithuanian offshore wind project, with the bid price of €20m.
The provisional winner is due to be confirmed by NERC, which oversees the process, no later than the next day after the real-time bidding process has closed.
Ignitis Renewables and Ocean Winds will be required to set up a joint company, which will be awarded the development and operation permit that will grant the right to use the maritime area for 41 years.
The maritime area for the offshore wind farm development is located approximately 30km–36km from Lithuania’s Baltic Sea coast, covering an area of around 120 square kilometres.
Once operational until the year 2030, the wind farm is expected to generate up to 3TWh of green electricity per year.
Ignitis Group chief executive Darius Maikštėnas: “One of Lithuania’s and, in turn, Ignitis Group’s most significant projects for achieving energy independence is offshore wind projects in the Baltic Sea.
“These projects will dramatically increase the amount of electricity produced from renewable resources, lowering Lithuania’s reliance on electricity imports and guaranteeing affordable electricity for all residents and businesses.”
Ignitis Renewables chief executive Thierry Aelens added: “Developing an offshore project portfolio in Lithuania and in the Baltics are cornerstones of our newly released updated Ignitis Group strategy, this potential award is the next big step in Ignitis Renewables delivering on the strategic goal of Ignitis Group to deliver 4GW-5GW of installed renewables capacity by 2030.”