On 9 April, the Ministry of Energy said that an offshore wind farm could reduce the average electricity price for consumers by about EUR 3/MWh and that the goal of the amendments was to ensure that offshore wind development brings benefits to consumers and has a positive impact on final electricity prices.
“The amendments ensure that, if consumers are required to contribute, their contribution should not exceed the benefits received from the offshore wind farm. Any financial contribution from consumers to the offshore wind farm would only be made once the farm actually starts generating electricity, around 2033. In addition, it is proposed to provide for the possibility of redirecting the corporate tax paid by a potential developer to cover the need for services in the public interest”, the Ministry of Energy said in a press release on 9 April.
The amendments also unify the conditions for the transmission of electricity by waiving the priority right for the transmission of electricity generated by an offshore wind farm over onshore wind and solar power plants, according to the Ministry of Energy, which said this ensures balanced conditions for the development of offshore wind and onshore renewable energy.
Lithuania plans to have two offshore wind projects with a combined capacity of 1.4 GW.
In 2023, the Lithuanian government awarded the development rights for the first 700 MW offshore wind project to a joint venture between Ocean Winds and Ignitis Renewables.