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Ignitis, EDP and Engie will jointly bid for offshore wind projects (Lithuania)

16 Sep 2020

Ocean Winds, the 50:50 offshore wind joint venture of EDP Renewables and Engie, has created a partnership with the Lithuanian energy group Ignitis to participate in auctions for offshore wind projects in Lithuania, where the first auction is scheduled in 2023. In June 2020, the Lithuanian government selected a 137.5 km2 area in the Baltic Sea Economic Zone to locate a 700 MW offshore wind project. If the partners jointly develop the project, Ignitis will own a 51% stake and Ocean Winds the remaining 49%, investing €700m in Lithuanian offshore wind. Lithuania targets a 45% share of renewables in final energy consumption in 2030. To achieve the goals announced, wind capacity should double between 2020 and 2030 and solar capacity should grow five-fold.

In addition, Ignitis will take a 5% stake in the Moray West offshore wind project in the United Kingdom.

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