Fortum-RUSNANO wind investment fund has been awarded 1,000 MW wind capacity in Russian wind CSA auction
1,000 MW of the bids of the Fortum-RUSNANO wind investment fund were selected
in the Russian wind auction. Fortum’s stake in the wind investment fund is 50%.
The bids are for projects to be commissioned during the years 2018-2022 with a
price corresponding to approximately EUR 115-135 per MWh. The projects will be
covered by Capacity Supply Agreements (CSA) for a period of 15 years.
The investments decisions will be made on a case-by-case basis within the total
mandate of the wind investment fund. Fortum’s equity stake in the wind
investment fund totals a maximum of RUB 15 billion (currently approximately EUR
Fortum announced the establishment of the wind investment fund on 27 April 2017.
A total of 1,900 MW for the years 2018-2022 was available in the Russian wind
auctions held from 29 May to 9 June 2017. The bids in the auction totalled
Måns Holmberg, Acting Head of Investor Relations and Financial Communications
Investor Relations & Financial Communications, Måns Holmberg, tel. +358 44 518
1518, Rauno Tiihonen, tel. +358 10 453 6150, Pirjo Lifländer +358 40 643 3317,
Investor news on 27 April 2017: Fortum and RUSNANO establish investment
partnership to create possibility to capture CSA wind opportunity in Russia
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, and 62% of our electricity generation is
CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum’s share is listed on
Nasdaq Helsinki. www.fortum.com