Friday, May 27 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of May 23
Week of May 16
Week of May 09
Week of May 02
Week of Apr 25
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Fortum to move 1.3-GW Russian wind portfolio to JV with Bank GPB


    January 19, 2022 - SeeNews Renewables

     

      January 19 (Renewables Now) - Finnish utility Fortum Oyj (HEL:FORTUM) will exit an investment fund it co-owns with Russian nanotechnology company Rusnano and tie up with domestic lender Bank GPB to develop 1.3 GW of wind projects in Russia.

      The Finnish company said on Tuesday it has recently formed a joint venture (JV) with the Gazprombank Group bank to implement the schemes. The new entity’s portfolio will come from the Fortum-Rusnano Wind Investment fund, which is equally owned by the two companies and will be dissolved after the transfer of projects.

      In a tender held last year, Fortum-Rusnano won capacity supply agreements (CSA) to install wind power capacity of around 430 MW-530 MW per year, or a total of 1.3 GW-1.6 GW. According to the Finnish utility, it holds 1.4 GW of wind projects secured in that tender, with the capacity planned to go online over the 2025-2027 period.

      Fortum and Rusnano will continue to explore cooperation opportunities for the joint future development of the project portfolio, Fortum said.

      Currently, the Finnish firm and its JVs own roughly 3.4 GW of wind and solar parks and development projects in Russia, including 1.2 GW of operational assets, 0.3 GW of projects under construction and 1.9 GW under development. The portfolio is held through equally-owned partnerships with Bank GPB and sovereign wealth fund RDIF.

      Fortum noted it has set aside RUB 15 billion (USD194.6m/EUR 171.7m) in equity for its renewable energy activities in Russia.

      (RUB 10 = USD 0.130/EUR 0.114)

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.