Inspenet, December 15, 2023.
Ignitis Renewables , a Lithuanian company specializing in green energy, and Copenhagen Infrastructure Partners were the winners of the first offshore wind auction in Estonia. The resulting offshore wind farm, with a capacity that can reach up to 1.4 GW, will be located in the Baltic Sea.
Estonia’s first offshore wind farm
This project, with an area of 115 km 2 , is projected to begin operations from 2030, as detailed in a joint statement from both companies. The estimated investment for the construction of this first offshore wind farm in Estonia amounts to 1.7 million euros . However, it is important to highlight that this is not the only project that these companies are developing in these regions.
Advances in the energy sector in the Baltic region
Through these renewable initiatives, Ignitis Renewables and Copenhagen Infrastructure Partners aim to establish themselves as committed long-term collaborators in the Baltic region’s energy transition. They seek to promote the decarbonization and energy security objectives of the Baltic republics.
Ole Kjems Sørensen, partner at CIP and head of Growth Markets Funds: “We take an important step in expanding our presence in the Baltics, one of the main markets of CIP’s Growth Markets Fund II. We believe this project could be a fundamental investment in Estonia’s transformation into a long-term European sustainable green energy hub.“.
Darius Maikštėnas, CEO of Ignitis Group: “This is the second offshore wind tender won by Ignitis Renewables in the Baltics. This tender represents a substantial step towards our overall objective of achieving 4-5 GW of green and flexible capacities installed by 2030“.
About Copenhagen Infrastructure Partners
Established in Denmark in 2012, Copenhagen Infrastructure Partners (CIP) is a leading investment management firm specializing in renewable energy. In Spain, CIP manages a portfolio of renewable projects that exceeds 7 GW, covering the operation and construction of various wind farms in Aragon, including the Monegros project.
Likewise, CIP is the promoter of Catalina, a large-scale green hydrogen initiative that contemplates the implementation of combined onshore wind and solar photovoltaic installations with a total capacity of 1.1 GW and a 500 MW electrolyzer. This project is located in Andorra (Teruel) and will be connected to an ecological green ammonia plant through a 221 km hydrogen pipeline.
Additionally, CIP aspires to play a fundamental role in the biogas sector in Spain and is in the process of developing projects for the production of biomethane in the country. Some of these initiatives have been designated by the authorities as strategic and of general and regional interest.
About Ignitis Renewables
Ignitis Renewables, an international firm specializing in green energy, operates in the Baltic countries and Poland. Its focus is on creating a low-carbon electricity generation portfolio, highlighting areas such as offshore wind, onshore hybrid, Power-to-X technology and storage solutions.
With the development of new projects, the company is aligning its initiatives with the strategic objective of the Ignitis Group, which seeks to facilitate the creation of green and flexible capacity. By 2030, it is expected to achieve the installation of between 4 and 5 GW of ecological generation capacity.
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