The three Baltic states – Estonia, Latvia and Lithuania – have been increasing their offshore wind energy efforts and starting to seize the enormous potential of the Baltic Sea when it comes to powering Europe's energy transition through offshore wind.

This uptake comes at a time where energy security and independence have become top priorities for the Baltic countries. Along with renewable energy targets these are key drivers for the build-out of green energy in the Baltic States.

• Estonia is an open-door market with more than 50 project applications, of which a few have received initial permits. Many of the applications are for overlapping areas, and the competition for these areas will be settled via auctions. The competing process for the first two areas totaling 3.6 GW was recently announced, and the first competitive auctions are coming in end of 2023 with more auctions being expected in the future.
  
• Lithuania has overtaken the position as leading offshore wind market between the three Baltic states with the launch of the country’s first auction in March 2023. A provisional winner has already been announced for this first offshore wind auction, and a second auction is expected by September 2023. Together, the two auctions will allocate 1.4 GW of fixed-bottom offshore wind by the end of the year.
  
• Latvia is lagging behind Lithuania and Estonia, as the only planned project is the Latvian-Estonian 1 GW Elwind project with an auction scheduled for 2026. Elwind is currently being developed by the Latvian and Estonian authorities, that recently received EUR 18.7 million in EU funding for the feasibility and environmental studies of this cross-border project.

To learn more about the offshore wind market in the Baltic states, read Aegir Insights' recently published market reports on the Baltics (accessible to subscribers) or reach out to us to learn more about Aegir Insights' offshore wind market intelligence offerings.