Ignitis Renewables, an international green energy company, together with its strategic partner, Ocean Winds, will develop the first offshore wind project in Lithuania. This was announced by the National Energy Regulatory Council (NERC) after it finished the screening of the provisional winners regarding their compliance with national security interests.
It is estimated that the 700 megawatt (MW) wind farm, located in the Baltic Sea, could generate around 3 terawatt-hours (TWh) of green electricity per year, which would meet a quarter of Lithuania’s current electricity demand.
“The offshore wind farm we are developing is a significant step towards Lithuania’s energy independence,” said Darius Maikštėnas, CEO at Ignitis Group. “This project will significantly increase local electricity generation from renewable energy sources and, thus, ensure lower dependence on electricity imports. It is the largest energy project in Lithuania, which will be the first country from the Baltic states to have an operating offshore wind farm.”
According to Mr Maikštėnas, as part of its National Energy Independence Strategy, Lithuania has an ambitious goal of covering 100 per cent of its electricity needs using renewable energy sources. It is estimated that offshore wind will comprise the largest share of renewable energy sources.
Following the NERC’s announcement, Ignitis Renewables and partners must set up a joint company in Lithuania within a period of 3 months. The joint venture company will be responsible for managing and implementing the project. The company will be awarded the development and operation permit, granting the right to use the maritime area for electricity generation for 41 years.