Ignitis Renewables, Ocean Winds win first Lithuanian offshore wind tender

Ignitis and OW submitted the highest bid in the tender for the 700-MW Lithuanian offshore wind project and are expected to be announced as the provisional winners of the tender. The companies said the development fee they offered was €20M (US$22M).

The tender organiser, the Lithuanian National Energy Regulatory Council (NERC), introduced a real-time bidding concept, in which bidders competed by offering the highest development fee. 

Based on the tender procedure, the provisional winner is due to be confirmed by NERC no later than 24 hours after the bidding process concluded. The provisional winner will be confirmed as winner of the tender by the organiser at the beginning of Q3 2023, following the completion of screening for compliance with national security interests.

Ignitis Group chief executive Darius Maikstenas said, “Offshore wind projects will dramatically increase the amount of electricity produced from renewable resources, reducing lowering Lithuania’s reliance on electricity imports and guaranteeing affordable electricity.”

Ignitis Renewables chief executive Thierry Aelens said, “Developing an offshore project portfolio in Lithuania and in the Baltics are cornerstones of our newly updated strategy.

“This award is the next big step in Ignitis Renewables delivering on the strategic goal of Ignitis Group to deliver 4–5 GW of installed renewables capacity by 2030.”

Once the screening procedure is completed, Ignitis Renewables and OW will be required to set up a joint company, which will be awarded a permit for development and operation.

The area identified for the windfarm is 30–36 km from Lithuania’s Baltic coast, covering an area of roughly 120 km². 

Once operational, the 700-MW windfarm is expected to generate up to 3 TWh of electricity per year, which is equivalent to 25% of Lithuania’s current electricity demand.