Ignitis Group is pleased to announce that its subsidiary, Ignitis renewables, together with Copenhagen Infrastructure Partners (CIP), has emerged as the highest bidder in an auction for the development of a wind park in the Liivi 2 area of Estonia. The winning bid amounted to an impressive 1,723 million euros, securing the rights to develop the project. Once completed, the wind park is expected to have a total capacity of up to 1.4 GW.
The designated area for the wind park expansion is located northwest of Ruhnu Island, near the Baltic Sea coastline in Estonia, covering approximately 115 square kilometers. Once all necessary permits are obtained and necessary agreements are in place with stakeholders, the wind park is projected to commence operations after 2030.
Stay tuned for more updates on this exciting renewable energy development by Ignitis Group and its subsidiary, Ignitis renewables.
Ignitis Renewables and CIP Partnership Announcement
Ignitis Renewables has recently announced a partnership with CIP for participation in exclusive offshore wind projects in Estonia and Latvia. The goal of this collaboration is to become long-term partners and actively contribute to the transformation of the energy sector in the Baltic region, specifically towards the decarbonization goals of the Baltic countries and the development of offshore wind parks.
Second Offshore Wind Project Success
This marks the second offshore wind project for Ignitis Renewables. Winning this competition reinforces the company’s strategic objective of achieving the second largest offshore wind project in the market (commercial operations starting after 2030). This accomplishment significantly contributes to Ignitis Renewables’ aim of increasing its green energy generation capacity fourfold from 1.2 GW in 2022 to 4-5 GW by 2030. More information on the company’s strategy can be found here.
For more information:
Paulius Kalmantas
Ignitis Renewables Communications Partner
Tel.: +370 617 51616
