Fortum tops 1.2 GW of wind, solar capacity in Russia

Fortum Oyj (HEL:FORTUM) has reached total capacity of 1,231 MW in its operational renewable energy portfolio in Russia, with the start of commercial operations for 478 MW of wind parks and 78 MW of solar power plants in the south of the country.

"Despite pandemic-related challenges, Fortum together with its joint ventures has been successful in commissioning seven new wind power plants in the Rostov, Volgograd and Astrakhan regions, as well as the first stage of the new 116 MW solar plant in Kalmykia that is set to become, upon completion in 2022, the biggest in Russia," Alexander Chuvaev, executive vice president of the Finnish company's Russia division, said in a statement on Wednesday.

Earlier this year, Fortum Russia through its joint venture won capacity supply agreements (CSA) to install more than 1.3 GW of wind turbines between 2025 and 2027. The wind investment fund is owned in equal parts by the Finnish utility and Russia's Rusnano. Fortum’s maximum equity commitment amounts to RUB 15 billion (USD 203.3m/EUR 179.8m).

Fortum's Russian division and its joint ventures have a combined renewable energy systems (RES) portfolio of about 3.4 GW, the company said. The Finnish energy company builds and operates onshore wind and solar power plants in Russia through equally-owned partnerships with Rusnano and sovereign wealth fund RDIF.

Fortum Russia has pledged to cut the use of coal by the end of 2022, with the transition to gas at its combined heat and power plant (CHP) Chelyabinsk CHP-2 as well as the sale, agreed in July, of its Argayash CHP to AO JSC Rusatom Smart utilities.

(RUB 10 = USD 0.136/EUR 0.120)

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