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CIP, Ignitis Renewables win competitive offshore wind tender in Estonia
Transactions - JANUARY 17, 2024

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CIP, Ignitis Renewables win competitive offshore wind tender in Estonia

by Released

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, and Ignitis Renewables have won the auction-based competitive tender for the development of an offshore wind farm in the Liivi 1 seabed area of Estonia, having placed the highest bid of €1.16 million ($1.3 million).

Having previously won the Liivi 2 site in Estonia’s first offshore wind tender held in December 2023, CIP, the world’s largest fund manager within greenfield renewable energy investments, and international green-energy company Ignitis Renewables see the adjacent site of Liivi 1 as a natural extension of the seabed area. This will allow for greater synergy and optimization in developing the sites as a single offshore-wind project.

The maritime area of both sites is in the Gulf of Riga, northwest of Ruhnu Island and near Estonia’s Baltic Sea coast, covers a total of 193 square kilometers (75 square mile-s). Subject to obtaining the relevant permits, contracting suppliers and

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