Fortum recognized as the most efficient generating company in Russia for second year in a row
FORTUM CORPORATION ONLINE NEWS 22 April 2020
Fortum has ranked first among the generating companies in terms of efficiency for the second year in a row in Russia. In its annual rating, Market Council, a nonprofit partnership that supervises wholesale electricity market in Russia, assesses how consistently the generating companies perform their capacity supply obligations, as well as the capacity factor of their generating equipment.
“Through consistent and systematic improvement of operational efficiency, Fortum has not only been able to demonstrate solid financial performance, but also secured the highest level of customer energy supply reliability. This capability is essential today as never before, as the normal functioning of infrastructure and social institutions depends on the utilities,” says Alexander Chuvaev, Executive Vice President of Fortum Corporation, Russia Division and General Director of PAO Fortum.
Fortum has almost doubled the generation capacity of its power plants in Russia since 2008, increasing it from 2.7 GW to 4.9 GW. Fortum portfolio includes Nyagan GRES and Chelyabinsk CHP-4, the most advanced and efficient thermal power plants in the South Urals and West Siberia areas. In 2019 Fortum power plants achieved the capacity factor of 73%, while the industry average was 45.7%.
Fortum is also actively engaged in the development of renewable energy in Russia. In January 2018, the company commissioned Ulyanovsk Wind Farm 1, the first commercial-scale wind farm in the country. Its installed capacity is 35 MW. Fortum generation portfolio in Russia includes also 35 MW of solar capacity.
In 2018 and 2019 Fortum obtained the right to build 115.6 MW of new solar generation capacity in Russia. The solar power plants are expected to be commissioned in 2021-2022. Apart from this in 2017 and 2018, Fortum-Rusnano investment fund obtained the right to build almost 2 GW of wind generation.
Read more about Fortum in Russia https://www.fortum.com/about-us/media/press-kits/country-fact-sheets/fortum-russia
Read more about wind and solar in Russia https://www.fortum.com/about-us/media/press-kits/wind-and-solar-russia
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 2019, our sales were EUR 5.4 billion and 59% of our electricity generation was CO2 free. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com
