The first wind farm developed under a joint venture between Finnish energy company Fortum and Rusnano has started operation in Ulyanovsk, western Russia. The 50MW plant, owned by the Fortum-Rusnano wind investment fund, is part of a total of 1823MW awarded in the 2017 and 2018 Russian wind auctions. The project meets required local component criteria, enabling it to receive a guaranteed Russian Capacity Supply Agreement price for 15 years. The Fortum-Rusnano wind investment fund is a 50:50 owned investment partnership to invest in wind power in Russia. In December Fortum and Rusnano made a final investment decision on a 100MW wind project. The JV is also developing a 200MW wind farm, slated to come online in 2020. Investment decisions will be made on a case-by-case basis. Fortum’s maximum equity commitment is RUB15bn. Fortum also won the right in a June 2018 auction to develop 110MW of solar capacity in Russia.
Finnish energy company Fortum and state-owned Russian joint-stock firm Rusnano have commissioned their first joint venture (JV) project, a 50 MW wind farm in Ulyanovsk, western Russia. The project is being built by the Swedish construction giant Skanska with Russia’s state gas monopoly Gazprom as its main contractor. The JV's pipeline also includes a 100 MW and 200 MW scheme.