Ignitis Group to Enter Second Offshore Wind Tender in Baltic Sea
Ignitis Group Moves Forward with Offshore Wind Initiative
AB “Ignitis grup?” is excited to announce its decision to participate in the upcoming second offshore wind tender aiming for the development of approximately 700 MW of offshore wind capacity in the Baltic Sea. This initiative aligns with the Group’s strategic goals to enhance its renewable energy capabilities and contribute to a greener future.
Tender Details and Timeline
The offshore wind tender is officially set to commence soon, and anticipation is growing amongst industry stakeholders. The winning bids are expected to be revealed by the National Energy Regulatory Council around the end of April 2024. Holding this tender is part of a broader strategy to bolster renewable energy production in the region.
Partner Selection Process
In an exciting development, Ignitis Group will initiate a partner selection process wherein it seeks partners for up to 49% of the venture. This collaborative effort is expected to enhance project scalability and bring in additional expertise crucial for the successful execution of the offshore project.
Independent Participation in the Tender
If the partner selection process does not yield results by the time the tender concludes, Ignitis Group has made it clear that it will still participate independently. This determination showcases the Group's commitment to advancing its ambitions in renewable energy, regardless of partner involvement.
Commitment to Green Energy Goals
Ignitis Group’s overarching goal is to amplify its Green Capacities significantly—from a current standing of 1.3 GW in 2023 to an impressive target of 4–5 GW by the year 2030. This ambitious housing of renewable projects highlights Ignitis Group's responsibility toward environmental sustainability and energy independence.
Future Offshore Wind Projects
Building on its strategic framework, the Group plans to initiate at least one notable offshore wind development project, with the commercial operation date (COD) anticipated around 2030. Another ongoing project is set for completion post-2030, reflecting a robust pipeline of renewable energy solutions.
Media Updates and Financial Guidance
Ignitis Group assures stakeholders that any significant updates regarding the tender's progress will be communicated promptly, particularly if the Group achieves success in the tender. It is important to note that this announcement does not alter the Group's Adjusted EBITDA and Investment outlook for the current year.
Contact Information for Queries
For additional information, please contact:
Communications
Laura Beganskien?
+370 654 24958
laura.beganskiene@ignitis.lt
Investor Relations
Ain? Riffel-Grinkevi?ien?
+370 643 14925
aine.riffel-grinkeviciene@ignitis.lt
Frequently Asked Questions
1. What is the primary aim of Ignitis Group in this tender?
The primary aim is to secure rights to develop around 700 MW of offshore wind power, enhancing its renewable energy portfolio.
2. When will the winner of the tender be announced?
The winner is expected to be announced by the National Energy Regulatory Council by the end of April 2024.
3. How much of the project is Ignitis Group looking to partner?
Ignitis Group is looking to have partners for up to 49% of the project.
4. What are the Group's green energy goals for 2030?
The Group aims to increase its Green Capacities from 1.3 GW in 2023 to between 4 and 5 GW by 2030.
5. Will there be further announcements about the tender?
Yes, any significant progress will be reported separately, especially if they achieve success in the tender or in the partnering process.
About The Author
Contact Ryan Hughes privately here. Or send an email with ATTN: Ryan Hughes as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.