Ignitis grupė says its subsidiary Ignitis renewables, along with strategic partner Ocean Winds, have been confirmed as winners of the 700 MW Lithuanian offshore wind tender, administered by the Lithuanian National Energy Regulatory Council.
Ignitis Renewables and Ocean Winds intend to set up a joint venture company in Lithuania that would be awarded the development and operation permit, granting the right to use the maritime area in the Baltic Sea for electricity production for 41 years.
The area is located, at the nearest, 36 km from Lithuania’s Baltic Sea coast, covering approximately 120 km2.
Subject to obtaining the relevant permits, contracting suppliers and securing financing, the project is expected to become operational until 2030. The 700 MW offshore wind farm should generate up to 3 TWh of electricity, which would meet up to 25% of Lithuania’s current electricity demand.
