Fortum and RDIF to build the largest solar power plant in Russia
FORTUM CORPORATION PRESS RELEASE 2 March 2021
Fortum and the Russian Direct Investment Fund (RDIF) will build a 116 MW solar power plant in Kalmykia in Southern Russia. When commissioned, it will be the largest solar power plant in Russia. The project will be implemented by the recently established joint venture between Fortum and RDIF, which already has 350 MW of wind power plants in the Ulyanovsk and Rostov regions.
The solar power plant is estimated to be commissioned in its full scale in the second half of 2022. The first construction phase of 78 MW is expected to be commissioned in the fourth quarter of 2021 and the remaining 38 MW in 2022.
In line with its strategy Fortum aims to grow a sizable portfolio of onshore wind and solar based power generation. Fortum is one of the largest players on the renewable energy market in Russia with a portfolio of 2 GW of wind and solar power parks and development projects, together with its joint ventures. 670 MW of this capacity is operational.
Måns Holmberg, Manager, IR and Financial Communications, tel. +358 44 518 1518
Fortum is a European energy company with activities in more than 40 countries. We provide our customers with electricity, gas, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. Together with our subsidiary Uniper, we are the third largest producer of CO2-free electricity in Europe. With approximately 19,000 professionals and a combined balance sheet of approximately EUR 69 billion, we have the scale, competence and resources to grow and to drive the energy transition forward. Fortum's share is listed on Nasdaq Helsinki and Uniper's share on the Frankfurt Stock Exchange. www.fortum.com