Fortum and the Russian Direct Investment Fund (RDIF) is planning to build a 116 MW solar power plant in Kalmykia in Southern Russia. The project will be implemented by the recently established joint venture between Fortum and RDIF, which already has 350 MW of wind power plants in the Ulyanovsk and Rostov regions.
It is estimated that the plant will be commissioned at its full size in the second half of 2022. The first construction phase of 78 MW is expected to be commissioned in the fourth quarter of 2021 and the remaining 38 MW in 2022.
In line with its strategy Fortum aims to develop a sizable portfolio of onshore wind and solar based power generation. It is already one of the largest players on the renewable energy market in Russia with a portfolio of 2 GW of wind and solar power parks and development projects, together with its joint ventures. 670 MW of this capacity is operational. Together with its subsidiary Uniper, Fortum is the third largest producer of CO2-free electricity in Europe.