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Ignitis Group submits bid for 700 MW Lithuanian offshore wind tender with the State support
Globenewswire· 2025-10-08 06:45
Group's Participation in Offshore Wind Tender - The Group has decided to participate in the Lithuanian offshore wind tender, aiming to develop at least 700 MW of offshore wind capacity in the Baltic Sea [1] - The participation is through UAB "Ignitis renewables projektai 5", which is wholly owned by UAB "Ignitis renewables" [1] Tender Details - Developers can submit a development fee or request support through a two-way contract for difference, with prices ranging from 75.45 EUR/MWh to 125.74 EUR/MWh, indexed until the generation permit is obtained, but not exceeding 8 years from the development and operation permit [2] - The tender was relaunched on June 9, 2025, and will continue until October 7, 2025, with the winner expected to be announced by the National Energy Regulatory Council by the end of 2025 [2] Strategic Goals - The Group's strategic priority is to increase its Green Capacities from 1.4 GW in 2024 to between 4 GW and 5 GW by 2030, with current installed Green Capacities at 2.1 GW [3] - A separate material announcement will be made regarding the tender's progress only if the Group is successful, after which a partner selection process for the project will continue [3] Financial Impact - The announcement does not affect the Group's Adjusted EBITDA and Investments guidance for 2025 [4]