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Ignitis Renewables now fully owns Lithuania’s Curonian Nord offshore wind project after buying out Ocean Winds.
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.
The deal, finalized at a nominal price with reimbursement of project costs and transfer of intellectual property, does not affect the project’s timeline.
Ignitis will continue development independently, aiming for a construction permit by 2027 and a new partner before the final investment decision.
Ocean Winds is exiting to focus on other markets.
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.
Ignitis Renewables es ahora propietaria en su totalidad del proyecto eólico marino Curonian Nord de Lituania tras la compra de Ocean Winds.