The Fortum-Rusnano wind investment fund joint venture has secured up to 1600MW of capacity in the latest Russian renewables’ auction.
The fund was awarded wind capacity of approximately 430-530MW a year, or 1.3-1.6GW to be commissioned from 2025-2027.
The number of gigawatts finally to be constructed is subject to separate investment decisions.
The projects will be covered by capacity supply agreements for a period of 15 years from commissioning.
Fortum is an active participant in renewable energy development in Russia, where the company owns the largest wind and solar power portfolio of more than 2GW, including the joint ventures with Rusnano and the Russian Direct Investment Fund (RDIF).
Today the portfolio consists of wind and solar power plants and projects out of which 670MW is operational, 848MW is under construction, and 491MW is under development.