Fortum has approximately 1.2 GW of renewable energy capacity in operation in Russia. The power plants have been built during the ongoing renewable energy development programme in Russia and a guaranteed price (Capacity Supply Agreement, CSA) is paid for the energy they produce.
Investments in wind and solar power have been made in joint ventures, and each investment decision has been made on a case-by-case basis. Fortum's maximum equity commitment for the development of renewables in Russia is 15 billion rubles.
On 3 March 2022, due to Russia's attack on Ukraine, our CEO announced that Fortum Group has stopped all new investment projects in Russia until further notice. Read CEO Markus Rauramo's statement.
Wind power: Fortum’s and its joint ventures’ portfolio of operational wind power projects currently consists of 14 wind farms with a total capacity of 1,113 MW. Our portfolio also includes approximately 254 MW of wind power projects under construction.
Solar power: Fortum has three solar power plants in Russia with a total capacity of 35 MW. One 116-MW project, investment of which has been made in joint venture, is under construction.