Ignitis enters Lithuania’s second 700-MW offshore wind auction

Lithuanian utility Ignitis Group (VSE:IGN1L) said today that it has submitted a bid as part of Lithuania’s second offshore wind auction, vying for the rights to a project with an installed capacity of around 700 MW in the Baltic Sea.

Following its success in the country's inaugural tender, Ignitis has submitted the bid for the new proposed project through its green energy arm UAB Ignitis Renewables, according to a press statement.

The proposed offshore wind park will be located around 30 kilometres (18.6 mi) from the coast, spanning an area of around 136 square kilometres. Once completed, the station is expected to generate around 3 TWh of electricity annually.

Under the rules, 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 EUR 64.31 (USD 68.5m) per MWh and EUR 107.18 per MWh. The winner will obtain the right to use the maritime area for 41 years and a secured grid connection.

Lithuania’s State Energy Regulatory Council (VERT) launched its second offshore wind tender in mid-January. The deadline for submitting bids expired on April 14.

Earlier this year, in partnership with Copenhagen Infrastructure Partners (CIP), Ignitis Renewables was declared winner in the second offshore wind auction in Estonia.

(EUR 1 = USD 1.065)

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