The Fortum-RUSNANO wind investment fund, first announced in April this year, has started implementation of its first 50 MW project in Russia. The project is the first of the total 1000 MW awarded to the fund in the Russian wind auction in June 2017.
The first turbine supply agreement for the project (14 turbines, with total capacity of approximately 50 MW) has been signed with Vestas, which was previously selected as a vendor for the main generating equipment supply and services.
The wind farm is expected to start production during the first half of 2019.
Fortum's long-term ambition is to have approximately 500 MW of wind capacity in Russia, supporting its strategy to increase the share of CO2-free generation capacity in its mix, and is in line with the company's overall target of creating a gigawatt-scale wind and solar portfolio.
The Fortum-RUSNANO wind investment fund is a 50/50 owned investment partnership to invest in wind power in Russia. Fortum’s equity stake in the fund totals a maximum of RUB 15 billion (approximately €220 million).
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