Ignitis Renewables and Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, have won development rights for the Liivi 2 sea area offshore wind farm, through a high bid of EUR 1.7 million.
Located northwest of Ruhnu Island, near Estonia’s Baltic Sea coast, the project will cover approximately 115 square km, with a total capacity of up to 1.4 GW. It is expected to become operational post-2030.
“With today’s announcement, we are taking an important step in expanding our presence in the Baltic states, a core market of CIP’s Growth Markets Funds,” says CIP’s Ole Kjems Sørensen. “We believe this project could be a cornerstone investment in Estonia’s transformation into a sustainable, long-term European green energy hub.”
“This is the second offshore wind tender secured by the Ignitis Renewables in the Baltic States,” adds Darius Maikštėnas, Ignitis Group CEO. “By winning, the group achieves its strategic goal of securing a second offshore wind development project in our home market, which is a substantial step towards our overall objective to achieve four to five gigawatts of installed green and flexible capacities by 2030.”
This year, Ignitis Renewables and CIP signed an agreement to collaborate exclusively on offshore wind opportunities in Estonia and Latvia. The partnership leverages Ignitis Renewables’ market position in the Baltic region and CIP’s global offshore wind expertise.
