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Vårgrønn & European Energy unite to develop Baltic Sea offshore wind

4C Offshore | Chloe Emanuel
By: Chloe Emanuel 15/05/2023 Vårgrønn

European Energy and Vårgrønn have joined forces to develop offshore wind ventures in the Baltic Sea. Together, they aim to unleash the full potential of Lithuania, Estonia, and Latvia, three Baltic states brimming with an estimated capacity of 15.4 GW.

The authorities of Lithuania, Estonia, and Latvia are opening up numerous areas for development through upcoming tenders. Lithuania is spearheading the charge with two tender launches in spring and autumn 2023, while Estonia is gearing up to tender a pipeline of 7 GW in late 2023.

Olav Hetland, the visionary CEO of Vårgrønn, proclaims: “The Baltic Sea has huge capability to power Europe’s energy transition through offshore wind, delivering energy security and contributing to reach collective climate targets. With Vårgrønn’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.”

Embracing this epochal shift, Knud Erik Andersen, the enterprising CEO of European Energy, exclaims: “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 Vårgrønn, who has extensive offshore expertise and strong financial capacity can build on their experience from offshore wind projects in the North Sea.”

The two companies will collaborate across the entire offshore wind lifecycle. From development and financing to construction and operation, European Energy and Vårgrønn will work together. European Energy's omnipresence in all three Baltic states, with their offices and a pipeline of onshore renewable energy projects, speaks volumes about their commitment. Notably, the company has successfully developed and constructed several wind parks in Lithuania, a testament to their achievements.

Hand in hand, the duo will work closely with local stakeholders to bring to life offshore wind projects that not only fulfill the energy security and decarbonization aspirations of the countries, but also create local jobs and protect the environment, respecting the interests of all sea users. This announcement kicks off a new era of energy as European Energy and Vårgrønn aim to revolutionize the Baltic Sea with their vision and determination.

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