Ignitis seeks bid partner for upcoming Lithuanian offshore wind tender
Tender to open on 18 November 2024 with result to be announced in April next year, local group says, which is looking for partner taking up to 49% stake
Lithuanian renewable energy group Ignitis is seeking a partner to take an up to 49% stake in a bid in the Baltic state’s upcoming second offshore wind tender.
The delayed 700MW tender will open on 18 November 2024, and Lithuania’s state energy regulator VERT in April of next year should announce the winner.
If it can’t find partners by the end of the tender, Ignitis will participate in it alone.
After the lack of interest in the second auction, Lithuania’s parliament approved amendments to its renewable energy legislation, allowing for inflation adjustment in the CfD price won at the tender. It also extended the registration of contestants to 120 calendar days from 90 days previously allowed.
According to the rules of the tender, developers will be able to choose to build the wind farm without or with state aid and have the option to compete for support for only part of the electricity produced.
Lithuania by 2030 targets to source 100% of its electricity from renewables – up from about 40% now – with offshore wind being regarded as key for national security.
Ignitis plans to bring one offshore wind farm online still this decade, and a second project after 2030. The group also targets to increase its green power capacity to 4-5GW in 2030, up from 1.3GW now.