Lithuania to Relaunch Tender for Second 700MW Offshore Wind Farm
The Lithuanian authorities have announced plans to relaunch a tender for a second 700MW offshore wind farm next week following amendments to the tender process.
The tender for the wind farm was temporarily halted earlier this year for a thorough evaluation of the conditions to ensure minimal impact on electricity prices for consumers.
The National Energy Regulatory Council (NERC) of Lithuania will oversee the tender, which is set to open on June 9 with participant registration open until September 8.
To proceed, the tender requires the participation of two or more developers, with the income tax paid by the winning developer allocated to public interest services.
Under the updated terms, the transaction price and development fee of the winning bidder will be recalculated annually for eight years based on inflation and changes in Lithuanian electricity prices.
Furthermore, any financial contribution from consumers towards the offshore wind farm will only occur once the project begins generating electricity, expected around 2033.
The new regulations also remove grid priority for offshore wind projects over onshore projects, ensuring all projects are considered on equal footing.