Ignitis Renewables and Copenhagen Infrastructure Companions (CIP), via its Progress Markets Fund II, have gained improvement rights for the Liivi 2 sea space offshore wind farm, via a excessive bid of EUR 1.7 million.
Situated northwest of Ruhnu Island, close to Estonia’s Baltic Beach, the undertaking will cowl roughly 115 sq. km, with a complete capability of as much as 1.4 GW. It’s anticipated to turn into operational post-2030.
“With immediately’s announcement, we’re taking an necessary step in increasing our presence within the Baltic states, a core market of CIP’s Progress Markets Funds,” says CIP’s Ole Kjems Sørensen. “We consider this undertaking may very well be a cornerstone funding in Estonia’s transformation right into a sustainable, long-term European inexperienced vitality hub.”
“That is the second offshore wind tender secured by the Ignitis Renewables within the Baltic States,” provides Darius Maikštėnas, Ignitis Group CEO. “By successful, the group achieves its strategic aim of securing a second offshore wind improvement undertaking in our house market, which is a considerable step in the direction of our general goal to attain 4 to 5 gigawatts of put in inexperienced and versatile capacities by 2030.”
This yr, Ignitis Renewables and CIP signed an settlement to collaborate completely on offshore wind alternatives in Estonia and Latvia. The partnership leverages Ignitis Renewables’ market place within the Baltic area and CIP’s international offshore wind experience.
