The Energy Practice Group of Triniti’s Lithuanian, Latvian and Estonian offices met in Tallinn on 20 January 2023. The meeting highlighted changes in the Baltic legal framework relevant to the development of renewable energy projects (wind and solar parks), as well as identified energy areas that are or will become a priority for the Baltic States in the near future.
These areas include the development of offshore wind farms, which is relevant for all three Baltic Sea States, the potential of green hydrogen, LNG and nuclear energy projects, as well as the need for an electricity balancing market.
There was a general consensus that all three Baltic States are facing the challenges of a limited electricity and gas transmission network, which neighbouring countries are trying to address in different ways. Lithuania, which until recently showed great ambition in the renewable energy sector, is increasingly losing the battle to attract foreign investment in the region due to the extremely unstable legal environment and the limitations of the electricity grid for renewable energy projects.
During the meetings with energy companies, existing and potential projects were discussed, where the joint team of the Triniti Baltic Energy Practice Group could help by leveraging its extensive experience in advising energy project developers.
The Triniti team is looking to expand its cooperation in the region with Scandinavian and Scottish law firms and is planning expert exchange opportunities in order to adopt best practices from law firms in the Baltic and Nordic countries in the field of renewable energy, in particular offshore wind farm development.