Ignitis Group takes decisions: will participate in Lithuania’s second 700 MW offshore wind tender and seek partners

Ignitis Group, a renewables-focused integrated utility, announces the decisions to participate in the second offshore wind tender for the rights to develop around 700 MW of offshore wind capacity in the Baltic Sea and to launch a partner (up to 49 %) selection process. 

The tender is currently announced to start on 18 November 2024. The winner is expected to be announced by the National Energy Regulatory Council, which is overseeing the process, on its website (link) by the end of April 2024. 

If no partners are selected by the end of the tender, the Ignitis Group will participate in the tender without partners and continue the selection process in parallel.  

The company reminds that the objective is to increase its Green Capacities 4 times from 1.3 GW in 2023 to 4–5 GW by 2030. Based on the strategy (link), Ignitis Group aims to develop one offshore wind development project with COD around 2030 and one with a COD post 2030. 

The company will only make a separate material announcement on the progress of the tender in the event of success and on the partnering process if a binding agreement is signed. The information provided in this announcement does not change Ignitis Group’s Adjusted EBITDA and Investments guidance for 2024.