During the discussion at the meeting of the Parliament of the Republic of Lithuania, the proposals of the Committee for Environmental Protection, on the development of offshore wind farms in the Baltic Sea, were accepted. This is a big step closer to offshore wind in Lithuania, comments the Lithuanian Wind Power Association (LVEA).

– This is a great day for offshore wind and our energy independence, but Parliament has yet to vote on the proposals, the industry organisation comments on Linkedin. The new offshore wind bill will allow for better preparation for offshore wind auctions. The legislation also includes a stronger mechanism to protect Lithuania’s national security interests.

What changes were adopted? The auction for offshore wind in Lithuania will be announced on 1 September 2023. Participants in the auction for offshore wind in Lithuania must have guarantees of adequate financial capacity and experience. In turn, the auction winner is required to comply with greenhouse gas emissions, environmental investment, and community support requirements. He will be held financially responsible in the event of a violation. The performance bond increased from €15 per kW to €75 per kW. The RES developer will also be responsible for ensuring that offshore turbines are dismantled.

Minimum and maximum levels for CFDs have also been set. – The winner of the auction will be the one who asks for the least amount of support. If you don’t ask for support, the highest development fee bidder wins, the organization’s post reads.

Recall that Lithuania plans to build two offshore wind farms with a capacity of 700 MW each. The regulations necessary for the development of offshore wind farms, including a major bill, are currently under development. Lithuanians hope that the offshore farm will cover about 25 percent of the country’s energy needs.

Source: Linkedin/LVEA