Energy solutions company Ignitis is offering residents of Lithuania the ability to rent part of a wind turbine.
People using the scheme will be able to rent capacity from the 63MW Vejo Galia wind farm in Mazeikiai region, with a single 4.5MW turbine to be leased to residents.
Around 1,000 private customers in total will be able to rent up to 5kW of capacity of the wind turbine to cover their electricity needs.
Residents will pay a rental fee, which should be around €36 per kW per month, to the wind turbine’s operator, and the electricity generated by the turbine will be converted into monetary value according to the terms and conditions agreed upon with the supplier and will be accumulated in the customer’s balance for electricity supply services.
The wind farm is already under construction, several of the fourteen wind turbines in total are already built. The company estimates that customers who rent a part of a turbine will start generating electricity in the second half of 2023.
Ignitis Group CEO Darius Maikstenas said: “The energy sector is transforming and developing, we are moving towards the green deal at lightning speeds, therefore, investments into renewable energy keep growing in importance, they are becoming more reasonable and with faster returns.
“We are constantly looking for opportunities to engage customers to enter the energy market and start contributing towards its development rather than remaining observers. The fact that today we can offer them a chance to adopt wind energy and, in turn, increase their resilience to the instability of energy prices is the result of the efforts of our team at Ignitis, and we are very proud of this.”