Ignitis Group addresses public discussions on offshore wind development

Ignitis Grupe AB

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AB "Ignitis grupe” (hereinafter – the Group), in response to public discussions and aiming to protect the investment environment as well as project partners, reminds about the development status of Lithuania’s first offshore wind project, Curonian Nord: 

• the project development continues; 

• to date, around EUR 50 million has been invested by the Group. Of this, EUR 20 million has been paid as a development fee and EUR 30 million has been allocated for environmental impact assessment, wind speed, water and meteorological measurements, various seabed surveys and other necessary works, which for the most part may also be flexibly used in the future without time constraints; 

• final investment decision is expected after completion of development and obtaining construction permit in 2027; 

• however, there might be a need to delay the project COD until there is more visibility on the electrolysis demand and/or the interconnector with Germany (to ensure long-term power offtake and in turn financing). The previous Group on this matter is available on page 36 of the Integrated Annual Report 2024 (link). 

Should there be any material changes, the Group will announce them accordingly.  

For additional information, please contact: 

Communications 
Marius Zelenius 
+370 613 03633 
marius.zelenius@ignitis.lt