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noviembre 27, 2024

VERT announces tender for 700 MW offshore wind farm in Lithuanian Baltic waters

The Lithuanian National Energy Regulatory Council (VERT) has launched a tendering process for the construction of a 700 MW offshore wind farm in the Baltic Sea, aiming for it to be operational by 2033.
By Lucia Colaluce

By Lucia Colaluce

noviembre 27, 2024
VERT

On 18 November 2024, the National Energy Regulatory Council VERT announced the launch of a tender for the development of a 700 MW offshore wind farm in the Baltic Sea. This initiative forms part of Lithuania’s national strategy to increase renewable energy generation capacity and reduce dependence on fossil fuels.

Simona Stankė, Senior Specialist at VERT’s Activity Management Division, highlighted the significance of the project for the country’s energy future. Speaking to Energía Estratégica España, she stated, “We expect this tender to lead to the successful development of a 700 MW offshore wind farm in the Baltic Sea within the established timeline, specifically no later than 2033.”

Legislative Changes Enabling the Tender

To make this tender possible, Lithuania implemented significant legislative adjustments. On the 1st of February 2023, Article 221 of the Renewable Energy Act came into force, allowing tenders to be launched in maritime territories without requiring financial support for the winner. Under this provision, VERT announced a tender on 30 March 2023 for an offshore wind farm without support, with a minimum installed capacity of 580 MW and an allowable production capacity of up to 700 MW. This tender concluded successfully, with the winner announced on October 12, 2023.

Subsequently, in December 2023, the European Commission approved provisions to promote the development of power plants in maritime areas, as outlined in Article 22 of the Renewable Energy Act. This approval enabled VERT to announce a new tender on 15 January 2024. However, this tender did not proceed due to insufficient participation, as at least two bidders were required.

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In response, the Ministry of Energy proposed amendments to Article 22 of the Renewable Energy Act, which were approved by the Lithuanian Parliament. The key changes included:

  • Reduction in the minimum number of participants: A single bidder is now sufficient for the tender to proceed. During the document and proposal submission period, information about the number of registered participants remains confidential.
  • Annual indexation of the transaction price: The transaction price or development fee proposed by the winning bidder is now subject to annual indexation.
  • Extension of the submission period: The submission deadline was extended from 90 days to 120 days, providing participants with additional time to prepare their bids.

Before announcing the tender on 18 November 2024, VERT set the maximum permitted electricity transaction price at €125.74/MWh and the minimum threshold at €75.45/MWh. Additionally, the Description of Tender Conditions was approved, detailing all essential requirements for the process.

VERT’s Role in Post-Award Supervision

After the award, the Lithuanian Energy Agency (LEA) will oversee the winner’s compliance with obligations, including environmental protection aspects. LEA must report any detected breaches to VERT. VERT, in turn, has the authority to impose sanctions, such as fines or the suspension or revocation of operating permits, based on LEA’s reports.

This project marks a significant milestone in Lithuania’s energy transition, solidifying the country’s position as a leader in renewable energy development in the Baltic region.

Stages of VERT’s Auction.

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