Lithuanian government approves significant changes to 700 MW offshore wind auction rules
Following the announcement in November 2024 and suspension in January 2025 of the 700 MW offshore wind auction, the Lithuanian government has approved amendments to promote competition and reduce the impact on electricity prices. Key changes: price indexation reduced from 23 to 8 years (savings of ~500 million EUR), the auction will only be successful with at least two participants, consumer payments will only start after the park becomes operational (around 2033), profit tax may be redirected to finance public services, and the priority given to offshore wind over onshore wind and solar has been removed. The Ministry of Energy estimates that the park’s operation could reduce the average price of electricity in Lithuania by ~3 EUR/MWh. The amendments will be submitted to the Parliament (Seimas).
Source: BalticWind.EU, 15.04.2025.