Fortum to increase its wind capacity in Russia

8 June 2021

The Fortum-Rusnano wind investment fund has made an investment decision on the construction of wind power parks with a total capacity of 236.6 MW in the Samara region in Russia. The Fortum-Rusnano wind investment fund was established by Fortum and the Rusnano Group on a parity basis with the purpose of investing in wind energy in the country.

The investment decision follows the signing of a non-binding wider co-operation agreement between the wind investment fund and the government of the Samara Region that envisages construction of wind parks with a total capacity of up to 300 MW in the region during 2022–2023. Gazprombank will provide financing for the project. The wind parks are expected to be commissioned in the fourth quarter of 2022.

In line with its strategy, Fortum aims to create a sizable portfolio of onshore wind and solar based power generation. Fortum is the largest renewable energy power producer in Russia.

The new wind power projects are a part of the wind portfolio of 1823 MW that the Fortum-Rusnano wind investment fund won in 2017 and 2018 in the selection of renewable energy sources investment projects.

Today the fund's portfolio of fully ready and commissioned assets consists of seven wind power plants with total capacity of 600 MW. The fund’s portfolio also includes 731.6 MW of projects under construction: 50 MW in the Rostov region, 340 MW in Astrakhan region, 105 MW in the Volgograd region and 236.6 MW in Samara.

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