Ignitis and CIP win Estonia’s first offshore wind tender
Baltic State's climate ministry has also worked closely with Latvia to develop projects in a cross border area
Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) have won a competitive tender for development of an offshore wind farm in the Liivi 2 area northwest of Estonia’s Ruhnu Island.
The development proposal outlilnes plans for up to 88 wind turbines in the Liivi 2 sea area.
“With today's announcement, we are taking an important step in expanding our presence in the Baltic States, said CIP partner Ole Kjems Sorensen, who heads the company’s Growth Markets Funds division.
“We believe this project could be a cornerstone investment in Estonia's transformation into a sustainable, long-term European green energy hub,” said Ignitis CEO Darius Maikstenas.
“By winning, the group achieves its strategic goal of securing a second offshore wind development project in our home market, which is a substantial step towards our overall objective to achieve 4–5GW of installed green and flexible capacities by 2030.”
The Estonia result represents the second offshore wind tender secured by Ignitis Renewables in the Baltic.
Lithuania-based Ignitis earlier this year signed an agreement with CIP to collaborate exclusively on offshore wind opportunities in Estonia and Latvia.
CIP manages 12 funds and has to date raised approximately €26bn for investments in energy and associated infrastructure. The company describes itself as the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind.
“The entry of the Lithuanian Ignitis and Copenhagen Infrastructure Partners (CIP) into the Estonian offshore wind market is excellent news. It is a combination of companies that combine the necessary international experience in the development and operation of offshore wind projects with the knowledge of the local North-Baltic energy market,” said Timo Tatar, Deputy Secretary-General for Energy and Mineral Resources at the Ministry of Climate.
The competitive tender for a second area of sea, Liivi 1 sea area will take place 11-15 January 2024.
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