CIP, Ignitis win second offshore wind auction in Estonia

Copenhagen Infrastructure Partners (CIP) and Ignitis Renewables have been declared winners in the second offshore wind auction in Estonia shortly after winning the first competition launched by the Baltic country.

After securing the Liivi 2 sea area of up to 1.4 GW in Estonia's maiden offshore wind tender in December, the two companies have now placed the highest bid of EUR 1.16 million (USD 1.26m) for the development of an offshore wind farm in the adjacent Liivi 1 seabed area, according to statements released by the parties today.

CIP, which is participating through its Growth Markets Fund II, and the renewables unit of Lithuanian energy company Ignitis Grupe AB (VSE:IGN1L), believe that the second win “will allow for greater synergy and optimisation in developing the sites as a single offshore wind project.”

The maritime area of the two sites spans around 193 square kilometres (74.5 sq mi) in the Gulf of Riga, northwest of Ruhnu Island and near Estonia’s Baltic Sea coast. The theoretical potential capacity of both sites is estimated to be 2.3 GW. Depending on environmental impact assessment results, site optimisation and other factors, the actual capacity of the offshore wind park will be 1 GW–1.5 GW.

The combined project is expected to be completed around 2035, subject to obtaining the required permits, contracting suppliers and securing financing.

The two auctions were held by Estonia’s Consumer Protection and Technical Regulatory Authority (CPTRA).

(EUR 1 = USD 1.088)

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