Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) have signed an agreement to collaborate exclusively on offshore wind opportunities in Estonia and Latvia.
Estonia’s adoption of a legal framework for offshore wind site allocation has paved the way for the utilization of extensive offshore wind potential. Meanwhile, Latvia continues to advance the development of legislation to realize its offshore wind potential.
CIP and Ignitis Group aim to become active and long-term partners for the energy transition in the Baltic region, supporting Estonia and Latvia’s decarbonization targets and energy security ambitions through the deployment of offshore wind.
The two will also work on the establishment of a local knowledge hub and workforce to boost employment opportunities in this growing sector.
“CIP aims to explore opportunities that tap into Estonia’s and Latvia’s substantial growth potential across renewable technologies including Power-to-X. CIP believes offshore wind has the potential to play a critical role in both nations achieving their targets and transforming the Baltic region into a long-term, self-sustained green energy hub,” head of the New Markets Fund, Ole Kjems Sørensen, said.
“We see the Baltic States as leaders of renewable energy in the future and Ignitis Group is set to lead this regional transition,” CEO of Ignitis Group, Darius Maikštėnas, added. “Our strategy focuses on delivering 4–5 GW of installed green and flexible capacities by 2030.”
