Offshore wind development is progressing slowly across the Baltic countries as uncertainty persists.
The region has successfully synchronized their grids with the Continental European network and plan to expand interconnector capacity, laying the groundwork for future cross-border electricity exports.
The Baltic countries have slowly developed an offshore wind pipeline of early-stage development projects, mainly in Estonia and Lithuania, but uncertainty on offtake and long-term planning continue to shape the markets outlook.
🔹Estonia holds the largest offshore wind pipeline in the region, with several gigawatts in early-stage development. However, offtake remains uncertain following the cancellation of the planned 2025 support auction.
🔹Latvia’s offshore wind ambition is currently focused on its site of the ELWIND project, a cross-border initiative with Estonia that is expected to become operational in the mid-2030s.
🔹Lithuania has set a target of 1.4 GW of offshore wind capacity to be delivered through two projects. The first 700 MW project has already been awarded through a lease auction. The second, a combined lease and support auction scheduled for award by the end of 2025, has been re-launched after attracting limited interest in its initial round.
Aegir Insights clients have access to a new Market Playbook on the Baltics, giving a comprehensive overview of recent developments in offshore wind, current market situation and future outlook in the Baltics.
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Aegir Insights' Market Intelligence
In our Market Playbooks, offshore wind markets are analyzed thoroughly with the aim of identifying growth opportunities. Factors considered include metocean conditions, infrastructure and constraints, LCoE forecasts, market activity overview, policy regime and current renewables build-out, among many other topics relevant for a given market. The reports can be used as a go-to for a market overview that contains all relevant information for early stage market screening.
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