Ignitis Group, a Lithuania-based energy company, has decided to participate in the country’s second offshore wind tender, set to begin in mid-November 2024.
The tender will offer rights to develop a 700MW wind farm in the Baltic Sea, with the successful bidder to be announced by April 2025.
Ignitis is currently seeking a partner or consortium to take up to a 49% stake in the project. If no partner is secured by the end of the tender, the company will participate independently while continuing to seek collaboration. This move aligns with Ignitis’ goal to quadruple its renewable energy capacity to 5GW by 2030, up from 1.3GW in 2023.
Ignitis, alongside partner Ocean Winds, was selected in October 2024 to develop Lithuania’s first 700MW offshore wind farm after meeting national security standards.