The public consultation for the first Lithuanian Offshore Wind Park was launched at the end of October 2022. This offshore wind farm is expected to ensure lower electricity prices for Lithuanian residents and businesses. The anticipated benefits for the coastal community are as follows:
- The budget of nearest city municipality will receive annual supplements of around EUR 3 million, which the park developer will be obliged to pay as a result of the amount of electricity generated and supplied to the network;
- The winning tenderer will have to allocate at least EUR 5 million for the purposes of environmental protection in the maritime territory of Lithuania;
- As many as 1,300 jobs are expected to be created during the construction and operation;
- At least 3% of the park’s construction works will have to be carried out by small and medium-sized enterprises.
The offshore wind farm project is planned to be as big as 163.39 km², located at 29.5 km on the west of the city of Palanga. This wind farm is expected to generate up to 3 TWh of electricity per year, ensuring up to 25% of Lithuania’s needs in 2028. Based on an investment of over EUR 1 billion, this project will support over 1300 jobs. More information is available on the project website.