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

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

Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, 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. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. In 2018, our sales were EUR 5.2 billion and 57% of our electricity generation was CO2 free. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com

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