Ignitis Group Targets Major Offshore Wind Project in the Baltic
Ignitis Group Pursues a Major Offshore Wind Tender
AB “Ignitis grup?” is excited to inform stakeholders about its decision to actively participate in a recent offshore wind tender aimed at securing the rights to develop a significant 700 MW of wind energy capacity in the Baltic Sea. This initiative is a significant step toward a more sustainable future.
Details of the Tender Submission
Ignitis Group entered this competitive tender process through its subsidiary, UAB “Ignitis renewables projektai 5”, which is entirely owned by UAB “Ignitis renewables”. Under the tender rules, companies can either opt to pay a development fee or request state support via a two-way contract for difference. The contract stipulates a payment range between 75.45 EUR/MWh and 125.74 EUR/MWh, with partial indexing until the generation permit is obtained and remains valid for up to 8 years post-permit acquisition.
Timeline and Announcement Expectations
This tender process has been relaunched, with submission deadlines set from June to October 2025. The National Energy Regulatory Council oversees the evaluation process, and winners are expected to be publicly announced on its official site by the end of 2025. This timeline reinforces the Group's commitment to transparency and stakeholder engagement.
Strengthening Green Energy Goals
Ignitis Group is unwavering in its commitment to enhancing its green energy footprint, with strategic goals to quadruple its Green Capacities from 1.4 GW in 2024 to an impressive 4–5 GW by 2030. Currently, the Group boasts installed Green Capacities of 2.1 GW, showcasing significant progress towards sustainable energy production.
Future Steps and Partner Selection
Should the Group succeed in securing a win in this tender, it plans to embark on a partner selection process to ensure the project’s effective execution. The focus will continue to remain on fostering collaboration with effective partners to maximize the project's potential impact.
Impact on Financial Projections
It's important to note that the information regarding this tender does not influence Ignitis Group's Adjusted EBITDA or its Investments guidance for the upcoming years. The strategic direction remains stable, ensuring that the company grows successfully and sustainably.
Contact Information for Inquiries
For further details or inquiries, please reach out to:
Communications
Valdas Lopeta
+370 621 77993
valdas.lopeta@ignitis.lt
Investor Relations
Ain? Riffel-Grinkevi?ien?
+370?643 14925
aine.riffel-grinkeviciene@ignitis.lt
Frequently Asked Questions
What is the purpose of the Ignitis Group's submission?
The submission aims to secure the rights to develop offshore wind energy capacity in the Baltic Sea, contributing to green energy initiatives.
How much energy capacity is Ignitis Group targeting?
Ignitis Group is targeting to develop at least 700 MW of offshore wind power.
What are the expected outcomes of the tender?
Winners of the tender will be announced by the National Energy Regulatory Council, which will oversee the bidding process.
What is the Group's overall green capacity goal?
The Group aims to increase its green capacities to 4–5 GW by 2030.
Who can be contacted for more details?
For inquiries, you can contact Valdas Lopeta in Communications or Ain? Riffel-Grinkevi?ien? in Investor Relations.
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