Ocean Winds and Ignitis Renewables submitted the highest development fee in the tendering procedure, with the bid price reachings EUR 20 million, Ignitis Group said.
The real-time bidding process to develop Lithuania’s first offshore wind farm began on Friday, 7 July, and was completed on Monday, 10 July.
Based on the tender procedures, the Lithuanian National Energy Regulatory Council, which oversees the process, is expected to declare the winner of the tender no later than the next day after the bidding process has closed.
The winner of the tender will be announced after the screening of compliance with national security interests which is expected to be finished at the beginning of the third quarter of 2023.
The following steps would include Ignitis Renewables and OW setting up a joint company, which would be awarded the development and operation permit, granting the right to use the maritime area for 41 years.
The maritime area for the 700 MW capacity offshore wind farm development is located at approximately 30–36 kilometres from Lithuania’s Baltic Sea coast, covering an area of approximately 120 square kilometres.
Subject to obtaining the relevant permits, contracting suppliers, and securing financing, the project is expected to become operational by 2030.
The wind farm is expected to generate up to 3 TWh of electricity, which would meet up to 25 percent of Lithuania’s current electricity demand. The offshore wind farm will operate under market conditions, the developers said.
”Developing an offshore project portfolio in Lithuania and in the Baltics are cornerstones of our newly released updated Ignitis Group strategy, this potential 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,” said Thierry Aelens, CEO of Ignitis Renewables.
