| Work Detail |
Financing the 700MW Curonian Nord offshore wind farm may become more challenging Ignitis has warned that there might be a need to delay its 700MW Curonian Nord projects commercial operation date (COD) until there is more visibility on the electrolysis demand and/or the interconnector between Lithuania and Germany to ensure long-term power offtake and, in turn, financing. Final investment decision on the offshore wind farm is expected after completion of development and obtaining construction permit in 2027. However, as a result of large-scale electrolysis projects being delayed across Europe, including the Baltics, possibilities to secure long-term power offtake have reduced, Ignitis said. Combined with challenges in the current offshore wind supply chain environment, financing of the project may become challenging as the developer approaches FID in 2027. As a result, there might be a need to delay the project COD until there is more visibility on the electrolysis demand and/or the interconnector with Germany, Ignitis said. |
