UAB Ignitis Renewables, a subsidiary of AB Ignitis Group, and its strategic partner for the development of offshore wind farm projects, Ocean Winds (OW), have been chosen as the provisional winners of a 700 MW Lithuanian offshore wind project tender.
Based on the tender procedures, the provisional winner is due to be confirmed by the Lithuanian National Energy Regulatory Council (the NERC). The winner will be announced after the screening of compliance with national security interests that is expected to be finished at the beginning of the third quarter of 2023.
Afterward, the next steps would include Ignitis Renewables and OW setting up a joint company, which would be awarded the development and operation permit, granting the right to use the maritime area for 41 years.
The maritime area for the 700 MW capacity offshore wind farm development is located approximately 18-22 miles from Lithuania’s Baltic Sea coast, covering an area of approximately 30,000 acres.
The project is expected to become operational in 2030. It should generate up to 3 TWh of electricity, which would meet up to 25% of Lithuania’s current electricity demand. The offshore wind farm will operate under market conditions.
