Ignitis Group to develop offshore wind farms with global energy leader Ocean Winds
15 September, 2020
Ignitis Group has selected a strategic partner for the development of offshore wind farm projects – Ocean Winds (OW), created by Engie and EDPR.
Ocean Winds and Ignitis Group aims to participate in the first auctions for offshore wind in Lithuania which is expected in 2023.
Ignitis Group will also contribute to the development of an offshore wind farm in the UK, taking a 5% stake in the Moray West wind farm.
The strategic partnership with OW (the Joint Venture of EDP Renewables and Engie), will bring foreign investment to the Lithuanian offshore wind energy sector, which may exceed €700m (£645m).
Ignitis Group is one of the largest international utilities and renewable energy companies in the Baltic region. Its core business activities are operating electricity and gas distribution networks, as well as expanding green generation portfolio. Ignitis group operates in its home markets – Lithuania, Latvia, Estonia, Poland and Finland – as well as evaluates opportunities in other countries on energy transition path.