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flag Ignitis Renewables now fully owns Lithuania’s Curonian Nord offshore wind project after buying out Ocean Winds.

flag On October 10, 2025, Ignitis Renewables gained full control of Lithuania’s Curonian Nord offshore wind project after acquiring a 49% stake from Ocean Winds, following regulatory approval. flag The deal, finalized at a nominal price with reimbursement of project costs and transfer of intellectual property, does not affect the project’s timeline. flag Ignitis will continue development independently, aiming for a construction permit by 2027 and a new partner before the final investment decision. flag Ocean Winds is exiting to focus on other markets. flag The transaction won’t impact Ignitis Group’s 2025 financial guidance, and the company has also submitted a bid for a 700 MW offshore wind tender in Lithuania.

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