President Gitanas Nausėda met with Henrik Andersen, CEO of Vestas Wind Systems, the world’s leading Danish wind turbine manufacturer, at the World Economic Forum in Davos.

“We are preparing to build one of the first offshore wind farms in the Baltic Sea. This renewable energy project of exceptional size will not only significantly cut Lithuania’s need to import electricity from other countries, but will also lead to the development of a new ecosystem. Lithuania’s favorable investment climate and skilled workforce are attractive to foreign investors. We invite them both to contribute to the construction of an offshore wind farm and to develop the production of advanced wind turbine components in Lithuania, a country that has the potential and ambition to become an international renewable energy hub,” the President said.

Gitanas Nausėda stressed that the implementation of a project of this scale will also be an important boost for the development of regional business in Lithuania.

At the meeting, the Danish renewable energy company was introduced to the Lithuanian offshore wind farm project, which will consist of two phases (each with a capacity of 700 MW) and will satisfy up to a half of Lithuania’s electricity needs. The resilience of Lithuania’s economy, favorable investment climate, the market of talented people, and the solutions to strengthen the country’s security were also discussed with the CEO of Vestas Wind Systems.

Source: President of the Republic of Lithuania