The port authority of the Lithuanian Port of Klaipėda have signed an investment agreement with Klaipėda Sea Cargo Company (Klasco). The agreement concerns the construction of port infrastructure necessary for the development of a planned offshore wind farm in the Baltic Sea. Investment in infrastructure on the Smelte peninsula could amount to around €27 million.

As part of the signed agreement, the port authority commits to provide infrastructure on the Smeltė peninsula to enable the development of offshore wind power plants and their components, including production, assembly or storage. The value of the investment could reach 27 million euros. The quays on the Smeltė peninsula will be rebuilt to allow for the loading and installation of wind turbines. Approximately 20 acres of land will be adapted for this purpose. Klasco, for its part, is committed to building a suitable superstructure and acquiring special handling equipment.

Lithuania expects the port of Klaipeda to become a key resource platform for a 700 MW offshore wind farm in the Baltic Sea.

“This is the beginning of a real effort to attract an investor for an energy project of national significance – the development of offshore wind farms. One of the goals of the port authority is to diversify activities and create conditions for such activities in the port that create significant added value”, said Algis Latakas, Director General of the Port of Klaipeda.

Latakas added that the government’s decision to lower the port’s average annual return on investment in wind energy infrastructure to 2 percent, allows investments to be made without imposing a heavy burden on future wind farm developers.

In turn, Vytautas Štumbergas, CEO of Klasco, stressed that the construction of offshore facilities is a complex project. Most of Lithuania’s offshore wind transhipments could be handled through the port of Klaipeda.