European Energy and Eni-HitecVision's offshore wind joint venture, Vargronn, have joined forces to seize the emerging offshore wind opportunities in the Baltic Sea. This strategic partnership aims to tap into the offshore wind potential in Lithuania, Estonia, and Latvia, which collectively offer an estimated capacity of 15.4GW.
The Baltic states have recognized the immense potential of offshore wind in their region and are actively opening up areas for development through upcoming tenders. Lithuania is set to launch two tenders in the spring and autumn of 2023, while Estonia plans to tender a pipeline of 7GW by the end of the same year.
Olav Hetland, CEO of Vargronn, expressed enthusiasm about the partnership, stating, “The Baltic Sea has huge capability to power Europe's energy transition through offshore wind, delivering energy security and contributing to reaching collective climate targets.” He further added, “With Vargronn's initial projects having focused on the North Sea, we are very pleased to be partnering with European Energy to develop offshore wind across the Baltic states. European Energy's strong track record in developing onshore renewables in this region, combined with their continued strong local presence, makes them an ideal partner for us.”
Knud Erik Andersen, CEO of European Energy, emphasized the transformative nature of the energy supply in the Baltic states, saying, “The Baltic states will undergo a rapid transformation in their energy supply in the coming years. In European Energy, we want to support this transformation, and we believe that we can best do this by partnering up with Vargronn, who has extensive offshore expertise and strong financial capacity, building on their experience from offshore wind projects in the North Sea.”
The collaboration between European Energy and Vargronn will encompass the entire offshore wind lifecycle, including development, financing, construction, and operation. By combining their respective strengths and expertise, the partners aim to facilitate the growth of offshore wind in the Baltic states and contribute significantly to Europe's energy transition.
