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Ignitis and CIP will bid jointly on offshore wind tenders in Estonia and Latvia

Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) through its New Markets Fund have signed an agreement to jointly participate in the auctions for multiple offshore wind sites in Estonia and Latvia during the last quarter of 2023.

The Baltic states have gathered attention of multiple companies since they have started to open several areas for development through upcoming tenders due to their significant offshore wind potential (estimated in around 15.4 GW). Among the projects of interest there’s ELWIND, a joint Estonian-Latvian cross-border and state-run offshore wind farm, scheduled to be auctioned in 2026 that is expected to have a total electricity capacity of up to 1,000 MW.

In May 2023, the renewable energy developer European Energy and offshore wind company Vårgrønn also formed a strategic partnership to jointly pursue offshore wind opportunities in the Baltic Sea within Lithuania, Estonia, and Latvia.