The Klaipeda State Seaport Authority and Klaipeda Sea Cargo Company (Klasco) have signed an investment agreement to develop the port infrastructure required for the planned development of 700 MW offshore wind farms in the Baltic Sea off the shore of Lithuania.

Under the agreement, the Seaport Authority agrees to invest in the infrastructure on the Smelte peninsula to enable production, assembly or storage activities for the offshore wind farms, while Klasco agrees to build said infrastructure. The Port of Klaipeda is expected to become a crucial platform for the wind farms project. The quays on the peninsula will be reconstructed to accommodate the loading and assembly of wind turbines, which will use around 20 hectares of land. Investments in the infrastructure of the Smelte peninsula could amount to around EUR27 million (US$28.39 million).