The National Energy Regulatory Council (NERC) has announced the cancellation of the second tender for a 700MW offshore wind farm in the Baltic Sea due to insufficient participation, with only one economic operator involved instead of the required two.
Minister of Energy Dainius Kreivys emphasises the significance of offshore wind power for Lithuania's energy independence and green objectives, outlining plans to refine tender conditions following consultations with industry stakeholders. The decision reflects evolving challenges in the global offshore wind market, including high interest rates, supply chain disruptions, and decreased investor interest. Despite setbacks, Lithuania remains committed to developing two offshore wind farms totalling 1.4GW, aiming to meet half of its electricity demand domestically by 2030 and bolster energy security. Renewables currently provide around 40% of Lithuania's total electricity consumption, mainly sourced from solar and wind energy.
