Ignitis Renewables acquires full ownership of Curonian Nord 700 MW offshore wind project from Ocean Winds

Type: Acquisition · Technology: Offshore Wind · Country: Lithuania · Capacity: 700 MW · Announced: 2026-07-03

Ignitis Renewables finalized the acquisition of full ownership of the 700 MW Curonian Nord offshore wind project in Lithuania, previously held jointly with Ocean Winds. The transaction follows a 2023 auction where the two companies secured development rights for the Baltic Sea project. Ocean Winds subsequently exited the venture in 2024 through a sale and purchase agreement, transferring its stake to Ignitis Renewables. The project is located 37 kilometers off Lithuania's coast, covering approximately 120 square kilometers in the Baltic Sea. With an Environmental Impact Assessment (EIA) approval secured from Lithuania's Environmental Protection Agency on July 3, 2026, the project advances to permitting stages, with a construction permit expected in 2027. Ignitis Renewables, a key player in Lithuania's renewable energy sector, now holds sole responsibility for developing the project, which will contribute significantly to the country's offshore wind capacity targets.

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