Fortum-Rusnano wind investment fund starts a 50-megawatt (MW) wind power project in the Rostov region, Russia

Fortum-Rusnano wind investment fund starts a 50-megawatt (MW) wind power project in the Rostov region, Russia

(PRESS RELEASE) HELSINKI, 5-Dec-2019 — /EuropaWire/ — The Fortum-Rusnano wind investment fund announced it is taking on its fifth project out of the total 1,823 MW awarded to the fund in the Russian wind auction during 2017 and 2018. The fund will invest in a 50-megawatt (MW) wind power project in the Rostov region, Russia.

The Fortum-Rusnano wind investment fund, which is 50/50 owned investment partnership, is already building 300 MW of wind power in the the Rostov region in Russia. The fund expects that the new wind farm will start production during the 4Q of 2020. The 50-MW Ulyanovsk 2 wind farm was the fund’s first joint project which began supplying capacity to the market on 1 January 2019.

The investment focus of the Fortum-Rusnano wind investment fund is wind power in Russia and decisions related to the renewable capacities won by Fortum and the Fortum-Rusnano wind investment fund during 2017-2019 period will be made on a case-by-case basis whereas Fortum’s maximum equity commitment is RUB 15 billion (around EUR 210 million).

Furthermore, Fortum has won the right to build in total 116 MW of solar capacity in June 2018 and June 2019.

Fortum in brief 

Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2018, our sales were EUR 5.2 billion and 57% of our electricity generation was CO2 free. Fortum’s share is listed on Nasdaq Helsinki.

Media contacts:

Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 5151 531
Måns Holmberg, IR Manager, tel. +358 44 518 1518
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150

SOURCE: Fortum