Wind and solar in Russia

We have announced plans to further expand our wind and solar power production in Russia.

We have announced plans to further expand our wind and solar power production in Russia. The plans are in line with Fortum's overall target of creating a multi-gigawatt wind and solar portfolio.

In June 2017, the Fortum-Rusnano wind investment fund won the right to build 1,000 MW of wind capacity in a CSA auction. In June 2018, the fund won the right to build a further 823 MW. The wind parks will receive a guaranteed CSA price corresponding to approximately RUB 7,000-8,000 per MWh for a period of 15 years. In June 2018, Fortum also won the right to build 110 MW of solar capacity.

The Fortum-Rusnano wind investment fund is a 50/50 owned investment partnership established in 2017 in order to secure the possibility of a Russian Capacity Supply Agreement (CSA) wind portfolio in Russia.

The investment decisions related to the renewable capacities won by Fortum and the Fortum-Rusnano wind investment fund in 2017 and 2018 will be made on a case-by-case basis.

Wind power

Fortum is an active participant of renewable energy development in Russia. 

In January 2018 we added 35 MW of wind power to the Russian power market when our Ulyanovsk wind farm was listed in the registry of capacity. This power plant is Russia’s first wholesale market wind generation facility.

The Fortum-Rusnano wind investment fund has made one of the most ambitious renewable energy commitments in Russia. Following the results of competitive selections of RES investment projects in 2017 and 2018, the Fund  won the right to build 1,823 MW of wind capacity. Wind farms are expected to be commissioned before 2024.

The investment decisions related to the renewable capacities won by Fortum-Rusnano wind investment fund are made on a case-by-case basis. Fortum’s maximum equity commitment is RUB 15 billion.

Fund’s portfolio of completed projects now includes three wind farms with the total installed capacity of 250 MW.

  • In January 2019 the Fortum-Rusnano wind investment fund started operation of the 50 MW wind power plant in Ulyanovsk. The plant is the first to start operation of the total 1,823 MW awarded to the fund in the Russian wind auction in 2017 and 2018.
  • In March 2020 Sulinskaya Wind Farm (Rostov region) with 100 MW capacity started supplying electricity and capacity to the wholesale electricity and capacity market in Russia.
  • In May 2020 Kamenskaya Wind Farm (Rostov region) with 100 MW capacity started supplying electricity and capacity to the wholesale electricity and capacity market in Russia. The first batch of the plant’s wind turbines (50 MW) started supplies in the wholesale electricity and capacity market on April 1, 2020.

The projects with the total capacity of 576 MW are currently in construction stage.

  • Gukovo Wind Farm (Rostov region) with the installed capacity of 100 MW  is expected to be commissioned before the end of the first half of 2020.
  • Kazachya Wind Farm (Rostov region) with the installed capacity of 100 MW is expected to be commissioned  in two stages: the first batch of the plant’s wind turbines (50 MW) are expected to start supplies in the wholesale electricity and capacity market in Q4 2020, another 50 MW are expected to enter the wholesale electricity and capacity market in Q4 2021.
  • Salynskaya and Tselinskaya Wind Farms with the total installed capacity of 200 MW are under construction in the Republic of Kalmykia and are expected to start production during the fourth quarter of 2020.
  • In April 2020, Fortum-Rusnano wind investment fund has taken the investment decision for a 176 MW wind power project in Astrakhan region. The wind farms are expected to start production during the fourth quarter of 2021.

The projects with the total capacity of 997 MW are currently in development stage

Solar power

In November 2017, we signed an agreement to acquire three solar power plants from Hevel Group, Russia's largest integrated solar power company. The transaction was closed in December 2017. All three power plants are operational with a total capacity of 35 MW. The plants were commissioned in 2016 and 2017. Hevel Group will provide operation and maintenance services for all three power plants.

In June 2018 Fortum won the right to build 110 MW of solar power to be commissioned during 2021-2022. Also, in June 2019, we won the right to build 5.6 megawatts (MW) of solar capacity in a Russian Capacity Supply Agreement (CSA) auction. The power plant is to be commissioned during the year 2022.

Building Ulyanovsk wind park - watch a time lapse

Images on our wind and solar parks in Russia