Lithuania is planning to invest in 700MW of offshore wind energy generation in the Baltic Sea.
The Ministry of Energy has asked stakeholders to identify the most efficient locations for wind turbine installation and a Government Resolution has been drafted to assess the feasibility of the project.
The resolution follows the recommendations of the National Energy Independence Strategy that requires 100% of electricity and heat to be produced internally and from renewable sources by 2050.
The renewable asset could generate up to three million MWh of electricity annually, enough to cover 25% of the nation’s current demand.
The auction for the offshore project is to be announced in 2023, with electricity generation expected to begin by 2030.
The Ministry of Energy will coordinate with the European Commission for financial support for the project.