MoU with Latvia for offshore wind farm

Country / jurisdiction: Estonia · Year: 2020 · Status: In force · Level: International · Type: Voluntary

The Estonian Minister of Economic Affairs and Infrastructure, Taavi Aas, and Latvian Minister of Economic Affairs, Janis Vitenbergs, digitally signed a MoU aimed at developing an offshore wind farm by the two states, the first of its kind in the region. It will enable the development of suitable offshore production sites.

The size of the planned offshore wind farm according to the MoU is up to 1 000 MW, which is up to 20 percent of the power consumption of the two countries. The project will also serve as a proof of concept for hybrid asset consisting of dual use transmission network and off-shore wind park.

The joint project makes it possible to attract investments in offshore wind farms to the region and makes connecting to the grid more affordable for others also.  This is also a good opportunity for knowledge transfer from North-Sea Energy Cooperation. After the states have carried out the necessary studies, such as the environmental impact assessment, they will carry out an auction for the superficial license. Estonia and Latvia will split the costs and income of the project equally.

Official source: https://www.mkm.ee/en/news/estonia-and-latvia-signed-mou-joint-offshore-wind-farm