CIP and Ignitis team up to target Estonian and Latvian offshore wind
Baltic neighbours are both trying to bolster their energy supplies as they move away from Russian gas
Denmark's Copenhagen Infrastructure Partners (CIP) has teamed up with Lithuanian state utility Ignitis to prepare bids for future offshore wind tenders in Estonia and Latvia.
The new partners announced today that they will work together exclusively on offshore wind opportunities in both countries.
They said the partnership will leverage Ignitis Group’s “leading market position” in the Baltic region and CIP’s “global offshore wind expertise”.
Estonia and Latvia are both striving to install offshore wind capacity as they wean themselves off Russian energy in the wake of the invasion of Ukraine.
Estonian prime minister Kaja Kallas said last year that the country must use the Baltic Sea’s “immense wind energy potential” — estimated at 93GW in one European Commission study — to move away from Russian energy. To that end, her government has been working to simplify permitting procedures for wind projects.
Latvia, which has no operational offshore wind farms despite its 500km coastline, is also advancing legislation to hold tenders for offshore wind development rights in the future.
CIP and Ignitis both issued statements saying that Estonia’s adoption of a legal framework for offshore wind site allocation has paved the way to tap what they described as its “extensive offshore wind potential”. They also cited Latvia’s moves to put the legal framework in place to realise its own “vast offshore wind potential."
The pair also stated their intention to forge an "active and long-term" partnership for the energy transition in the Baltic region, "supporting Estonia and Latvia’s decarbonisation targets and energy security ambitions through the deployment of offshore wind.”
They said they will support the offshore industry in those countries by establishing a “local knowledge hub and workforce” to boost employment opportunities in the sector.
Ignitis is aiming to deliver 4-5GW of “installed green and flexible capacities” by 2030.
Partner in CIP and Head of the New Markets Fund, Ole Kjems Sorensen stated: "Alongside our local partner Ignitis Group, one of the largest renewable energy generators in the Baltic region, CIP aims to explore opportunities that tap into Estonia’s and Latvia’s substantial growth potential across renewable technologies including Power-to-X.
"CIP believes offshore wind has the potential to play a critical role in both nations achieving their targets and transforming the Baltic region into a long-term, self-sustained green energy hub."
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