CEF Energy supports landmark Bornholm Energy Island interconnector between Denmark and Germany
CINEA has signed a grant agreement worth €645.2 million under the CEF Energy programme to support the Danish side of the Bornholm Energy Island (BEI) Hybrid Offshore Interconnector – one of Europe’s most ambitious and strategic energy infrastructure projects.
The grant signature ceremony took place on 4 September 2025 in Copenhagen, during the Informal meeting of energy ministers, marking a significant step towards a more resilient, interconnected, and sustainable European energy system.
Connecting offshore wind to millions of consumers
Led by Energinet (Denmark) and 50Hertz (Germany), this innovative and visionary project will connect multiple wind farms together via a single offshore energy hub on the Danish island of Bornholm in the Baltic Sea. From there, 3 GW of offshore green electricity will be brought onshore and distributed through Denmark and Germany, helping to power millions of homes and businesses with clean electricity.
To make this possible, CEF Energy is funding the construction of two new converter stations (one on Bornholm and one in Zealand), and the installation of an extensive submarine cable system of around 200 kilometres, complemented by a 17-kilometre onshore connection, between Zealand and Bornholm. This infrastructure will serve as a crucial bridge between offshore generation and consumers, enabling electricity to flow flexibly where it is needed most. This innovative setup supports energy security, price stability, and the integration of renewable energy on a much larger scale than before.
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Originally published on 4 Sep
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Estonia is no stranger to being the first in official digital adoption — already succeeding in making all governmental services online, using blockchain and e-voting. Now it’s time to take this approach into the AI era. The Estonian government unveiled Eesti.ai on Tuesday, an ambitious national program that aims to systematically implement artificial intelligence across all sectors, with the goal of doubling the value of Estonian work by 2035.
Prime Minister Kristen Michal launched the initiative alongside Bolt founder Markus Villig, who will chair the international advisory council driving the program. The council brings together Estonian tech leaders, including IT visionary Linnar Viik and entrepreneurs Sten Tamkivi (Skaala), Kaspar Korjus (Pactum), and Taavi Madiberk (Skeleton), working alongside international experts and sector representatives.
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Originally published on 27 Jan
Checkout.com, a leading global digital payments provider, has announced the establishment of a technology centre in Vilnius. The expansion follows the acquisition of Blue EMI, a Lithuanian electronic money institution, and will see Checkout.com build capabilities in compliance and technology, to serve its operations.
Since its establishment in 2012, Checkout.com has evolved from a fast-growing fintech into a payments infrastructure provider serving some of the world’s largest enterprises, with an expanding geographic presence and global operations. The company enables businesses to accept, process, and optimise digital payments worldwide, with services spanning online card acquiring, multi-currency processing, issuing, fraud detection, and payment orchestration.
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Originally published on 27 Jan
At the North Sea Summit on January 26, Denmark and Germany took the final steps toward realizing the Bornholm Energy Island. At Baltic Energy Island, we are grateful and more than ready to move forward.
Denmark and Germany have agreed to share the costs of the support needed for offshore wind. The cost distribution reflects a fair balance between the benefits of the project and the expected allocation of green power.
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Originally published on 27 Jan
By signing a contract governing the legally compliant cooperation for the construction and operation of the two offshore platforms required for the Gennaker offshore wind farm, transmission system operator 50Hertz and wind farm developer Skyborn Renewables (Skyborn) have cleared the way for commissioning the entire system by mid‑2028. The agreement resolves legal and regulatory uncertainties and sets a pioneering precedent for grid connection of an offshore wind farm located in territorial waters.
The Gennaker offshore wind farm, comprising 63 turbines of the 15‑MW class, will be built in German territorial waters (within the so‑called 12-nautical-mile zone) off the coast of the Fischland-Darß-Zingst peninsula. The project received full approval from the state of Mecklenburg-Western Pomerania in December last year. Installation of the wind turbines is scheduled to begin in late summer 2027. The cooperation agreement between 50Hertz and Skyborn now concluded represents an essential addition and prerequisite for the planned commissioning of the grid connection system in July 2028.
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Originally published on 27 Jan
A Market Sounding Is Announced for the Long-Term Capacity of the Klaipėda LNG Terminal for 2033–2044
AB KN Energies, the operator of the Klaipėda LNG Terminal, plans to launch a long-term LNG terminal capacity allocation procedure for the period 2033–2044 later this year. As a first step, the Company hereby initiates a market sounding process.
Prior to commencing the Procedure, the Company seeks to obtain feedback from market participants on the main proposed conditions of the Procedure. For this purpose, the Company announces a market survey.
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Originally published on 27 Jan
Latvia’s fintech industry is entering a new phase of maturity, driven by solid growth metrics, deeper collaboration with regulators, and a more diversified ecosystem. With 126 fintech companies now active across the country, the sector has evolved from a fast-growing niche to a strategic contributor to the national economy.
The latest figures show an impressive rise in both profitability and fiscal impact. In 2024, Latvian fintechs generated over €370 million in turnover and nearly €100 million in net profit—more than double the previous year’s profit. This performance was accompanied by strong contributions to public finances, with over €91 million paid in taxes. Employment across the sector has grown as well, now surpassing 3,600 professionals, many of whom are in high-skilled roles.
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Originally published on 25 Jan
RWE and Aneo, a Nordic renewables player, have signed a transaction agreement concerning RWE’s Swedish wind activities. This includes RWE’s onshore wind development pipeline (1.8 gigawatts), its onshore wind farms with a total operational capacity of 124 megawatts, the operational Karehamn offshore wind farm (48 megawatts), part of RWE’s third-party onshore service business, and the relevant development, operations and offshore teams assigned to the transferred projects and assets. Both parties have agreed not to disclose the purchase price. Completion of this transaction is subject to customary approvals and is expected in the first quarter of 2026.
Katja Wünschel, CEO RWE Renewables Europe & Australia: “We are delighted that our Swedish wind business and its project teams will be joining Aneo. As a key player in the Nordic wind sector, Aneo is dedicated to building a robust, long-term portfolio in Sweden, advancing energy projects that meet rising energy demand, create jobs and invest in communities. We are therefore pleased to have found a new home for our impacted employees, and we wish the Swedish team and its projects continued success. RWE’s strategic focus remains on its dynamic markets for attractive large-scale renewables growth.”
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Originally published on 23 Jan
Cruising is entering a new phase. As travel trends shift toward authenticity, sustainability and emotional value, Northern Europe – and the Baltic Sea in particular – is increasingly aligned with the expectations of tomorrow’s cruise passengers. Across the travel sector, demand is moving away from overcrowded destinations and toward places that offer cultural depth and a sense of genuine discovery.
In this context, the Baltic Sea stands out not because it is spectacular in scale, but because it is coherent in character. Its destinations share a broadly similar planning culture, social stability and relationship with nature. For cruise operators, this creates itineraries that are efficient to operate yet rich in content, without the growing friction associated with over-tourism. One of the Baltic’s defining strengths is easy access. Many ports are located close to city centres or directly integrated into small towns, allowing passengers to explore on foot rather than through long transfers. This reflects passenger preferences identified by Cruise Lines International Association, which show growing satisfaction with ports offering walkability, easy access and authentic local environments. Whether in larger cities such as Helsinki, Tallinn or Stockholm, or in smaller destinations like Kotka and Kalmar, proximity and immediacy play a central role in shaping the shore experience.
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Originally published on 26 Jan
The agreement on the wind farms for the Bornholm Energy Island project is the decisive building block for the realisation of this particular German-Danish infrastructure undertaking.
Stefan Kapferer, CEO of 50Hertz: “The agreement be-tween Germany and Denmark has an impact on the offshore industry across Europe, extending far beyond the Baltic Sea project Bornholm Energy Island. It is furthermore a strong european signal in geopolitically difficult times. Both countries are breaking new regulatory ground and are therefore pio-neering the way forward. 50Hertz and Energinet will jointly contribute their expertise and experience and, as those responsible for the electricity hub on Bornholm and for the direct current connections to Denmark and Germany, will play their part in the success of the project overall.”
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Originally published on 26 Jan
From 20 to 22 January, European Commission consultations with public administration authorities and representatives of the non-governmental sector took place in Riga within the framework of the European Semester process.
The objective of these consultations is to enable colleagues from various Directorates-General to gain a better understanding of current developments in Latvia and to identify issues and topics that could be included in the European Commission’s 2026 Country Report and the country-specific recommendations for Latvia, which the Commission plans to publish in June and which will also be relevant in the context of further EU funds programming. During this visit, more than 20 European Commission representatives were in Latvia, the majority of whom were from the Reform and Investment Task Force (SG.REFORM) and the Directorate-General for Economic and Financial Affairs (ECFIN), which is responsible for the implementation of the Recovery and Resilience Facility in Latvia.
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Originally published on 23 Jan