MNI BRIEF: Japan's Wages Rise 5.46% Vs. 2024's 5.28%

JAPAN WAGES RISE 5.46% 2025 VS. 5.28% IN 2024: PRESS

MNI BRIEF: UK GDP Slows In Jan on Weaker Manufacturing Output

MNI BRIEF: China's Education Ministry To Boost Graduate Jobs

MNI BRIEF: China Rail Freight Up During First Two Months

MNI: PBOC Net Drains CNY4.3 Bln via OMO Friday

MNI: SPAIN FEB HICP +0.4% M/M, +2.9% Y/Y

MNI: FRANCE FEB HICP +0.1% M/M, +0.9% Y/Y

MNI: GERMANY FINAL FEB HICP 0.5% M/M, 2.6% Y/Y

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: Lithuania Proposes Amendments for 700MW Offshore Wind, Starts 2033

POWER
BulletPower BulletsEnergy BulletsCommodities

Lithuanian has proposed amendments to the Law on Renewable Energy, aiming to reduce the country's second 700MW offshore wind project by around €500mn, the Energy Ministry said.

  • The second 700MW offshore wind farm tender will proceed after the government and parliament Seimas approve the RES Law amendments, with the project anticipated to begin operations in 2033.
  • The amendments aim to lower electricity prices by €3/MWh and if consumers are required to contribute, payments will only start in 2033, with the contribution being less than the benefits received.
  • Additionally, the amendments propose indexing the project price for 8 years instead of 23, potentially reducing the costs of the project.
  • And if few bidders participate, negotiations will lower costs by adjusting production volume or transaction price, while support of €1/MWh will now be allocated to five municipalities: Klaipeda City, Klaipeda District, Neringa, Palanga City, and Kretinga District.
  • Lithuania may re-launch its tender for a second 700MW offshore wind farm in the Baltic Sea by April, the energy ministry said, cited by BNS on 22 January.
  • The winner is expected to be announced by the end of 2025.
  • The energy ministry proposed temporarily suspending the ongoing tender to revise terms and conditions, it said on 21 January.
197 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Lithuanian has proposed amendments to the Law on Renewable Energy, aiming to reduce the country's second 700MW offshore wind project by around €500mn, the Energy Ministry said.

  • The second 700MW offshore wind farm tender will proceed after the government and parliament Seimas approve the RES Law amendments, with the project anticipated to begin operations in 2033.
  • The amendments aim to lower electricity prices by €3/MWh and if consumers are required to contribute, payments will only start in 2033, with the contribution being less than the benefits received.
  • Additionally, the amendments propose indexing the project price for 8 years instead of 23, potentially reducing the costs of the project.
  • And if few bidders participate, negotiations will lower costs by adjusting production volume or transaction price, while support of €1/MWh will now be allocated to five municipalities: Klaipeda City, Klaipeda District, Neringa, Palanga City, and Kretinga District.
  • Lithuania may re-launch its tender for a second 700MW offshore wind farm in the Baltic Sea by April, the energy ministry said, cited by BNS on 22 January.
  • The winner is expected to be announced by the end of 2025.
  • The energy ministry proposed temporarily suspending the ongoing tender to revise terms and conditions, it said on 21 January.