CIP and Ignitis Renewables wins Estonia’s first offshore wind energy tender
International green energy company Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) through its Growth Markets Fund II are the winners of the auction-based competitive tender for development of an offshore wind farm in the Liivi 2 sea area in Estonia, having placed the highest bid in the amount of EUR 1.7 million.
The maritime area for the offshore wind farm is located northwest of Ruhnu Island, near Estonia’s Baltic Sea coast, covering approximately 115 square kilometres, with a total capacity of up to 1.4 gigawatts (GW) is expected to become operational post-2030.
“With today’s announcement, we are taking an important step in expanding our presence in the Baltic states, a core market of CIP’s Growth Markets Funds. We believe this project could be a cornerstone investment in Estonia’s transformation into a sustainable, long-term European green energy hub,” said Ole Kjems Sørensen, Partner in CIP and Head of the Growth Markets Funds.
“This is the second offshore wind tender secured by the Ignitis Renewables in the Baltic States. By winning, the group achieves its strategic goal of securing a second offshore wind development project in our home market, which is a substantial step towards our overall objective to achieve 4–5 GW of installed green and flexible capacities by 2030,” said Darius Maikšt?nas, CEO of Ignitis Group. He highlighted that this achievement marks yet another significant milestone in the Baltic region’s energy transition. It supports the goals of decarbonization and enhances energy security by advancing the use of offshore wind.
This year Ignitis Renewables and CIP have signed an agreement to collaborate exclusively on offshore wind opportunities in Estonia and Latvia. The partnership leverages Ignitis Renewables’ leading market position in the Baltic region and CIP’s global offshore wind expertise. Ignitis Renewables and CIP aim to become active and long-term partners for the energy transition in the Baltic region, supporting Baltic states’ decarbonization targets and energy security ambitions through the deployment of offshore wind.
Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 12 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com
Ignitis Renewables is an international green energy company operating in the three Baltic states and Poland. Its objective is to develop a low-carbon electricity generation portfolio with a focus on offshore wind, onshore hybrid, Power-to-X and storage technologies. By developing new projects, the company is implementing the strategic goal of Ignitis Group to enable green and flexible capacity build-out and to deliver 4–5 GW of installed green generation capacities by 2030.