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Lithuania approves requirements for offshore wind farms developers without State aid

Lithuania’s Government has approved the requirements for developers of offshore wind farms without State aid. As reported by the Lithuanian Wind Power Association, the National Energy Regulatory Council (VERT) is expected to announce the tender on 30 March and the winner will be announced in June-July.

“The production of electricity from renewable resources allows us to approach Lithuania’s energy independence in a purposeful way,” said Energy Minister, Dainius Kreivys. “In addition to the solar and wind power parks already being built or planned to be developed on land, we must also exploit the potential of offshore wind. Just by implementing the two offshore wind park projects, we will produce half of the current electricity needs of the State, as well as lower prices for residents.”

According to the requirements for the tender, the company must have revenues of at least 250 million euros in the last three years and at least 20 per cent of the project value in equity. If a consortium of companies participates in the tender, their combined annual revenue and equity will be assessed. Then, bidders must have developed at least one offshore power plant larger than 150 megawatts (MW) or be authorised to produce electricity there.

Developers will be required to support local communities of the municipalities bordering the marine area of the park and to contribute at least 5 million euros to environmental protection. They will also be required to carry out all the necessary studies, environmental impact assessments and other actions themselves. And, they will make an annual contribution (1 euro per megawatt-hour – MWh – of electricity generated) to the communities of the municipalities surrounding the park.

Finally, the developer offering the highest development fee to the State will win the tender. Incentives to reduce emissions of greenhouse gases that contribute to climate change are provided during the construction of the offshore wind farm. And, at least 3 per cent of the construction works of the park will have to be carried out by small and medium-sized enterprises.

In the meantime, the Ministry of Energy has released the Environmental Impact Assessment (EIA) report.

Read the full article here

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