With 700 MW on offer, developers get a chance to become first mover in the Baltics.
The Lithuanian Government has today launched the country’s first offshore wind auction, kicking off the first of several auctions to be hosted in the Baltics in 2023. The tender will offer a 700 MW subsidy free fixed project, with a COD date set for 2028. The winner of the round is expected to be announced at the start of Q3 and be selected based on the highest proposed development fee offered.
An additional 700 MW subsidy backed fixed project is scheduled to be auctioned in September, with results expected Q1/Q2 2024. The Estonian government is also set on hosting an auction round for 3-4 areas, scheduled for Q3.
The potential of 5-6 projects to be awarded in the Baltics signals a definitive increase of pace for the industry in the region, and 2023 is looking strong be the Baltics breakthrough year for offshore wind.
Image Source: Offshorewind.lt