Lithuanian energy firm seeks offshore wind buddy

One of the largest state-owned energy companies in the Baltic states has initiated a search for a strategic partner to develop offshore wind energy projects.

Lithuanian company Lietuvos Energija has launched an expression of interest (EOI) to select an experienced international partner to develop projects in the country’s waters.

Lietuvos Energija board member and director of infrastructure and development Dominykas Tuckus said “Last year we adopted an ambitious strategy, LE 2030, aiming to become one of the regional drivers of the green energy transformation.

“In the next 12 years we plan to install up to 3 GW of renewable energy, the majority of which will come from wind energy.

“In order to realise our ambitions, we are looking for an experienced partner with a proven track record who would bring best practice and expertise to building offshore wind projects. We expect to develop joint offshore wind energy projects in Lithuania,” said Mr Tuckus, noting that the company hopes to select a potential partner by the end of 2019.   

In the event that it does so, the company plans to implement a two-stage process, with the first stage enabling Lietuvos Energija to gain access to expertise related to the offshore wind energy projects by acquiring a minority stake in a project already in a late stage of development.

In the second phase, Lietuvos Energija plans to take an active part in developing offshore wind energy projects in the Baltic. The company anticipates that the Lithuanian Government will conduct the necessary preparatory work needed to launch auctions for offshore wind energy.

The company believes developing offshore windfarms in the Baltic will contribute considerably to Lithuania’s national goal of generating the lion’s share of its electricity from renewable energy sources.

“Lithuania’s National Energy Independence Strategy foresees offshore windfarm development in the Baltic as a way to achieve ambitious goals in renewable energy production. Our aim is to collect the necessary experience and enlarge our own wind energy capacity in order to participate in the development of offshore wind in Lithuania in the future,” Mr Tuckus concluded.