Copenhagen Infrastructure Partners (CIP) and Ignitis Renewables secure Liivi 1 site, following their success in Estonia’s first offshore wind tender in December 2023. This new win positions them strategically for a transformative offshore wind project.
Development in Estonia’s Offshore Wind Landscape
CIP, recognized as the world’s largest fund manager in greenfield renewable energy investments, and Ignitis Renewables, an international green energy company, are set to extend their influence in Estonia’s offshore wind sector. Having previously secured the Liivi 2 site, the adjacent Liivi 1 is viewed as a natural expansion, fostering synergy for an integrated offshore wind project.
Geographical Overview and Project Scope
The maritime region encompasses both Liivi 1 and Liivi 2, located in the Gulf of Riga, northwest of Ruhnu Island, near Estonia’s Baltic Sea coast. Encompassing approximately 193 square kilometres, the combined project is slated for operation post-2030, pending necessary permits, supplier agreements, and financial arrangements.
Exclusive Collaboration Agreement
CIP and Ignitis Renewables formalize their commitment through an exclusive collaboration agreement, concentrating on offshore wind ventures in Estonia and Latvia. This strategic partnership taps into CIP’s global expertise in offshore wind and Ignitis Renewables’ prominent role in the Baltic region’s energy landscape.
Estonia’s Green Energy Hub
Securing both Liivi 1 and Liivi 2 sea areas, CIP and Ignitis Renewables position themselves strategically, contributing to Estonia’s evolution into a sustainable green energy hub in Europe. This venture represents a significant investment, aligning with Estonia’s goal of long-term reliance on green energy.
About Copenhagen Infrastructure Partners and Ignitis Renewables
Copenhagen Infrastructure Partners (CIP), founded in 2012, leads as the world’s largest fund manager in greenfield renewable energy investments, managing 12 funds and raising approximately EUR 26 billion. Ignitis Renewables operates internationally, focusing on offshore wind, onshore hybrid, Power-to-X, and storage technologies, with a vision to deliver 4–5 GW of green generation capacities by 2030 in the Baltic states and Poland.
Source：koreabizwire.com
