Winning both Gulf of Riga sea areas Estonia auctioned off for offshore wind development will allow partners Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) to better tap the sites' potential, the energy company said.
"Having now secured both the Liivi 1 and Liivi 2 sea areas, CIP and Ignitis Renewables have a strategic position to optimize the scale and potential of the sites, representing a key investment in Estonia and the region's transformation into a sustainable, long-term green energy hub in Europe," Ignitis Renewables said in a press release.
Ignitis Renewables and CIP's exclusive collaboration agreement leverages the former's leading market position in the Baltic region and the latter's global offshore wind expertise, the company said regarding the partnership.
Last month, Ignitis Renewables and CIP won the auction as the sole bidders for the Liivi 2 site, Estonia's first offshore wind auction, with the starting bid price of more than €1.72 million. This month, the duo won the auction for the Liivi 1 site as well, placing the highest bid in the amount of nearly €1.17 million.
The Liivi 1 and Liivi 2 sites are located in the Gulf of Riga (Liivi laht in Estonian), northwest of the remote Estonian island of Ruhnu and covering a combined area of approximately 193 square kilometers.
While the theoretical potential capacity of both sites is calculated to be 2.3 gigawatts (GW), the actual capacity of the offshore wind park is expected to be 1-1.5 GW, depending on environmental impact assessment results, site optimization as well as other factors, the company said.
The project is slated to become operational around 2035.
Editor: Aili Vahtla