Ignitis Group submits bid for 700 MW Lithuanian offshore wind tender with the State support

Summary by AI BETAClose X

Ignitis Group has announced its participation in the Lithuanian offshore wind tender, bidding for the rights to develop at least 700 MW of offshore wind capacity. The tender allows developers to request support via a two-way contract for difference, ranging from 75.45 EUR/MWh to 125.74 EUR/MWh, partially indexed until a generation permit is obtained, but for no longer than 8 years after obtaining the development and operation permit. The winner is expected to be announced by the end of 2025. This initiative aligns with the Group's strategic priority to increase its Green Capacities fourfold, from 1.4 GW in 2024 to 4-5 GW by 2030; currently, the Group’s installed Green Capacities amount to 2.1 GW. The announcement does not affect the Group’s Adjusted EBITDA and Investments guidance for 2025.

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