Lithuania’s state-owned energy company Lietuvos Energija has launched a international search for partners for the development of offshore wind energy projects.
Image: Lietuvos Energija on the lookout for offshore wind energy partners. Photo: Courtesy of Lietuvos Energija.
In this regard, Lietuvos Energija has rolled out an expression of interest (EOI) process to select an experienced partner to develop projects in the European Economic Area. The company intends to finalize the potential partner by the end of this year.
If the company forms a successful agreement, the potential partnership will be implemented in a two-stage process, Lietuvos Energija stated.
In the first phase, the company will aim to gain relevant expertise in offshore wind energy projects by acquiring a minority stake in a project within European Economic Area, which already is in the late stage of development.
In the second phase, the company aims to actively participate in the development of offshore wind energy projects in the Baltic Sea. This can happen after the government conducts the necessary preparatory works required to launch auctions for offshore wind energy development.
Lietuvos Energija board member and infrastructure and development director Dominykas Tuckus said: “Last year we adopted an ambitious strategy LE 2030, aiming to become one of the regional drivers of the green energy transformation. In the upcoming 12 years, we plan to install up to 3000 MW, majority of which will come from wind energy.
“In order to realize our ambitions, we look for an experienced partner with a proven track record who would bring best-practises and expertise in building offshore wind projects. Later on, we expect to develop joint offshore wind energy projects in Lithuania as well.”
The company claims that adding offshore wind farm in Baltic Sea can contribute significantly to Lithuania’s national goal of generating a lion’s share of electricity from renewable energy sources.
Tuckus continued saying: “Lithuania’s National Energy Independence Strategy foresees offshore wind farm development in the Baltic Sea as one of the means to achieve ambitious goals in renewable energy production. Our aim is to collect the necessary experience and enlarge our own wind energy capacity now, to be able to participate successfully in the offshore wind farm’s development in Lithuania in the future.”
Last month, the company’s subsidiary Lietuvos Energijos Gamyba had started preparations for installing a 1MW energy storage system installation in Kaunas Algirdas Brazauskas’ hydropower plant. The storage system is expected enable to deliver a high-quality frequency containment reserve (FCR) service.