Baltics – Ørsted and Enefit have signed a memorandum of understanding (MoU) which outlines a vision for becoming the leading offshore wind developer in the Baltic countries.
The MoU also sets out a vision to jointly move towards delivering the first offshore wind farm in the Gulf of Riga in the Baltic Sea, before 2030.
In September 2020, the Latvian and Estonian governments signed a memorandum of understanding for a joint offshore wind farm, and, subject to a supportive regulatory framework for offshore wind being in place, it’s Ørsted and Enefit’s ambition to deliver this before 2030.
Path to decarbonization
Offshore wind offers a clear green path forward for the decarbonization of the Baltic countries and will be able to deliver large-scale, zero-carbon electricity before 2030. The partnership is strongly committed to supporting the governments across the Baltic countries in realizing their plans for reducing carbon emissions.
Offshore wind joint venture
As part of the MoU, Ørsted and Enefit intend to establish a joint venture for the development of offshore wind opportunities in the Baltic countries, including the Liivi offshore wind project in the Estonian part of the Gulf of Riga.
Furthermore, Ørsted has submitted an application for an area in Latvian waters next to the Liivi site. Through these sites, the partnership aims to pursue a cross-border hybrid solution, which will connect an offshore wind farm to both Latvia and Estonia and enable the utilization of the offshore wind transmission cables as an interconnector between the two countries.
Offshore wind offers a clear green path forward when Estonia and Latvia desynchronize from the Russian grid, and Estonia looks to phase out shale oil as part of its decarbonization efforts. Offshore wind is the most viable option for large-scale renewable energy to deliver high security of supply for the two countries.
Increase in European capacity
In addition to the cooperation within Estonian and Latvian governments developing offshore wind, the EU’s offshore renewable energy strategy proposes to increase Europe’s offshore wind generation capacity from the current 12 GW to at least 60 GW by 2030 and to 300 GW by 2050. The Baltic Sea can make a significant contribution to this target with a potential above 90 GW. In 2020, the EU member states around the Baltic Sea signed the Baltic Sea Offshore Wind Declaration to accelerate the build-out of offshore wind in the Baltic Sea to reach both national and international climate targets.