Fortum-Rusnano wind investment fund to start implementation of 200-MW project in Russia

The Fortum-Rusnano wind investment fund has taken the investment decision for a 200-megawatt (MW) wind power project in Kalmykia, Russia. It is the fourth project of the total 1,823 MW awarded to the fund in the Russian wind auction in 2017 and 2018.

The wind farms in Kalmykia are expected to start production during the fourth quarter of 2020.

The first joint project completed by the partnership was the 50-MW Ulyanovsk 2 wind farm which started supplying capacity to the market on 1 January 2019. In the Rostov region, the partnership is constructing 300 MW of wind power. Power production and capacity supply is expected to start during the first half of 2020.

The Fortum-Rusnano wind investment fund is a 50/50 owned investment partnership to invest in wind power in Russia. The investment decisions related to the renewable capacities won by Fortum and the Fortum-Rusnano wind investment fund in 2017-2019 will be made on a case-by-case basis. 

Reference information

Wind Energy Development Fund (WEDF) is a 50/50 owned investment partnership formed by FORTUM and  RUSNANO to invest in wind power in Russia. The partners collectively intend to invest 30 billion rubles in wind power farm construction projects in Russia. Wind Power Asset Management LLC, a company owned by FORTUM and  RUSNANO on a parity basis, manages the activities of the Fund. The total capacity of the Fund`s wind projects portfolio formed following the competitive selection of renewable poervgeneration projects is around 2 GW. Wind farms are to be commissioned in 2019-2023.