Overview

• Following regulatory clearance, Ignitis Renewables signed a sale and purchase agreement to acquire Ocean Winds’ 49% stake in project company UAB 'Offshore wind farm 1'.
• The stake will be acquired at a nominal price, with Ignitis reimbursing Ocean Winds’ directly incurred costs to secure project work, research data and intellectual property.
• Ocean Winds intends to exit the project after closing as it concentrates activities in other markets.
• Ignitis says project delivery remains on track as it continues the environmental impact assessment and wind/metocean measurement campaigns toward a 2027 construction permit.
• Curonian Nord totals 700 MW with development rights won in Lithuania’s first offshore wind auction in 2023, and Ignitis aims to select a new partner ahead of the final investment decision.