Ignitis Group has unveiled its intention to participate in the second tender for offshore wind rights in the Baltic Sea, which will allocate around 700 MW of capacity. The company has also launched a process to select a partner for potential developments. This tender, overseen by the National Energy Regulatory Council (NERC), is scheduled to commence on November 18, 2024, with the winner expected to be announced by the end of April 2025.

Ignitis Group emphasized that if no partner is chosen by the time the tender ends, it will proceed independently while continuing the search for a partner. This strategy highlights the company’s flexibility and commitment to maximizing its opportunities in the Baltic offshore wind market.

In April, BalticWind.EU reported that Ignitis Renewables, a green energy division of the group, had already confirmed its participation in the same 700 MW offshore wind tender. Ignitis submitted all necessary documents and bids to NERC as part of its long-term strategy to grow its offshore wind capacity.

The decision to participate in this second tender stems from changes to the project implementation timeline. The terms now require that the project be completed within eight years, ensuring the investment schedule does not conflict with the timeline for the first Lithuanian offshore wind farm. This development could create financial synergies, making the simultaneous implementation of both projects feasible.

Ignitis Renewables is well-positioned to participate without a partner, having previously secured offshore wind project rights in Lithuania and Estonia that satisfy the tender qualifications. According to Thierry Aelens, CEO of Ignitis Renewables, the company’s strategy prioritizes partnerships with experienced, reliable collaborators, and if successful in the tender, the selection process will start immediately.

Ignitis Group aims to quadruple its green generation capacity, targeting an increase from the current 1.3 GW to 4–5 GW. Offshore wind development in the Baltic Sea remains a crucial pillar of this strategy. The company’s success in earlier tenders, including a partnership with Ocean Winds in the first Lithuanian 700 MW offshore wind project, has already secured a permit for the use of a maritime area. Additionally, Ignitis and Copenhagen Infrastructure Partners (CIP) have secured two tender wins in Estonia, for the Liivi 1 and Liivi 2 offshore wind projects.

Source: Ignitis Group