Online news

Fortum has won the right to build 5.6 MW of CSA-supported solar capacity in Russia

17 June 2019, 10:00 EEST

FORTUM CORPORATION ONLINE NEWS 17 JUNE 2019 10:00 EEST

Fortum has won the right to build 5.6 megawatt (MW) of solar capacity in a Russian Capacity Supply Agreement (CSA) auction. The power plant is to be commissioned during the year 2022 and will receive a guaranteed CSA price corresponding to approximately RUB 15,000 per MWh for a period of 15 years.

In June 2018 the Fortum won the right to build 110 MW of solar power to be commissioned during 2021-2022.

Fortum currently owns three solar power plants in Russia with a total capacity of 35 MW. In addition, the Fortum-Rusnano wind investment fund holds the right to build over 1.8 gigawatt of wind capacity by 2023.

The investments decisions related to the capacities won by Fortum and the Fortum-Rusnano wind investment fund in 2017, 2018, and 2019 will be made on a case-by-case basis. Fortum’s previously communicated maximum equity commitment is RUB 15 billion. In the longer term, Fortum seeks to maintain an asset-light structure by forming potential partnerships and other forms of co-operation.

Fortum Corporation

Ingela Ulfves
Vice President, Investor Relations and Financial Communications

Additional information:

Ingela Ulfves, VP, IR and Financial Communications, tel. +358 40 515 1531
Måns Holmberg, Manager, IR and Financial Communications, tel. +358 44 518 1518
Rauno Tiihonen, IR Manager, tel. +358 10 453 6150