Restructuring the Russian wind energy market

For this purpose, a 1.3 GW portfolio of wind energy projects is being transferred from the Fortum-Rusnano Wind Investment fund (a 50/50 joint venture) to a new joint venture recently established with the GPB Bank. Upon the transfer, the joint venture of Fortum-Rusnano Wind investment fund will be dissolved.

The old Fortum-Rusnano investment fund was recently awarded 1.4 GW of wind capacity to be commissioned during the years 2025–2027.  Both companies continue to assess cooperation for joint future development of this project portfolio.

Fortum is the largest player on the renewable energy market in Russia with a portfolio of approximately 3.4 GW of wind and solar power parks and development projects, either stand alone or together with its joint ventures with GPB Bank and RDIF. As of today the total capacity consists of wind and solar power plants and projects out of which 1.2 GW are operational, 0.3 GW under construction, and 1.9 GW under development. The investment decisions related to the wind and solar capacities are made on a case-by-case basis.