Ignitis Group unit Ignitis Renewables and its strategic partner Ocean Winds, a joint venture of Engie and EDP Renewables, have placed the highest bid in a tender for 700MW of offshore wind issued by the Lithuanian Government.
The duo offered €20m ($22.02m) as a development fee to become the provisional winners of the tender.
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The Lithuanian National Energy Regulatory Council organised the tender using the concept of real-time bidding, in which the bidders competed by offering the highest development fee.
The tender’s final winner will be confirmed early in the third quarter of 2023 following the completion of screening for compliance with national security interests.
The two companies will then form a joint enterprise and receive a permit to use a 120km² maritime area between 30km and 36km from Lithuania’s Baltic Sea coast for 41 years.
Expected to begin operations in 2030, the 700MW project will generate three terawatt-hours of clean electricity annually and meet 25% of the country’s current electricity demand.
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By GlobalDataIgnitis Renewables CEO Thierry Aelens stated: “Developing offshore project portfolios 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 4–5GW of installed renewables capacity by 2030.”
Ignitis Group CEO Darius Maikštėnas stated: “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.”
