The resolution would establish the necessary conditions for the Klaipeda State Seaport Authority to invest in port infrastructure for the manufacture, assembly and storage of components of wind turbines and other components. The investment will also lead, according to the government, to the development of new jobs.

It is expected to invest some EUR 483 million from 2021 to 2024 in the expansion of the Port of Klaipeda, with co-financing from the EU Structural Funds.

Much of this investment will be invested in the construction and rebuilding of the quays and dredging schemes.

Algis Latakas, CEO of the Klaipeda State Seaport Authority, reported in October that the port was also working to obtain funding for projects that would help to improve the shipbuilding and ship repair sector required for the economic vitality of the area and upgrade some of the port's current facilities to house wind farms.

The government told the draft resolution about greenlighting as it declared that EUR 7.5 million of funding was allocated in preparation for the country's first offshore wind tender, contributing to the first 700 MW of installed offshore wind power in Lithuania.

Maritime Business World