Ignitis Renewables, part of Ignitis Group, has submitted a bid for rights to develop around 700 MW of offshore wind capacity in the Baltic Sea as part of Lithuanian tender.
Under the tender regulations, the potential developer can submit either the development fee or request support in the form of a two-way contract for difference (CfD) in the range between 64.31 €/MWh and 107.18 €/MWh.
Winning the tender would grant the right to use the maritime area for 41 years and a secured grid connection. Located at approximately 30 km from the coast, the site for a future offshore wind farm covers an area of approximately 136 km2 and is expected to generate around 3 TWh of clean energy annually.
It is expected that the winner will be announced by the National Energy Regulatory Council (NERC) which is overseeing the process, until May 31, 2024. In case of a successful tender, a partner selection process will be started.
The decision to participate in the second tender is driven by the change in the project implementation schedule. As the project is set to be implemented within eight years (around 2032, previously 2030), it will potentially not coincide with the implementation of the first 700 MW Lithuanian offshore wind farm, set to take place around 2030.
This will make it financially feasible to successfully implement both projects in the event of a successful tender, according to Ignitis.