Lietuvos Energija offshore wind partnership proposal caught strong interest from the European energy market leaders

After initiating a search for partners in offshore wind project development earlier this year, Lietuvos Energija Group has received initial interest from 10 potential partners, all of them – European offshore wind market leaders. 7 participants submitted official EOIs.

One of the largest state-owned energy companies in the Baltic States initiated an Expression of Interest (EOI) process in February with an aim to attract an experienced partner having a proven track record in offshore wind farm development. Through a two-stage partnership process, Lietuvos Energija intends to gain relevant expertise by acquiring a minority stake in a project under development within the European Economic Area and, later on, developing joint offshore wind energy projects in Lithuania.

Lietuvos Energija has already finalised an initial screening of the EOI’s received from the parties interested to develop offshore wind farms on a joint venture basis. The majority of the participants of the EOI process were also met at WindEurope conference in Bilbao, one of the biggest European renewable energy conferences.

“Our current target is to reach 3 000 MW in installed green generation capacity by 2030 and most of it will come from wind energy. This closely follows the objectives laid down in Lithuania’s National Energy Independence strategy – to increase the share of electricity generated by wind power up to 50% in the next 12 years. It is anticipated that offshore wind power auctions for projects in the Baltic Sea will start in 2021-2022 therefore, Lietuvos Energija aims to gain relevant experience in managing offshore wind farms’ development projects by that time. Strong interest we have received form potential partners indicates we are on the right track and market leaders are fully aware of the growing potential of the Baltics in renewable energy development”, says Dominykas Tučkus, Member of the Board and Director of Infrastructure and Development at Lietuvos Energija.

More about Lietuvos Energija: https://www.le.lt/index.php?lang=2