Fortum-Rusnano wind investment fund starts cooperation in the Saratov Region in Russia
FORTUM CORPORATION ONLINE NEWS 14 February 2019
The Government of Saratov Region in Russia and the Fortum-Rusnano wind investment fund have signed a non-binding cooperation agreement to build wind power plants with the total installed capacity of up to 300 MW in the Saratov region in 2019-2023.
The agreement was signed on the sidelines of the Russian Investment Forum in Sochi. The document was signed by Governor of Saratov Region Valeriy Radaev and Alexander Chuvaev, Executive Vice President of Fortum's Russia Division. The agreement defines the general principles for cooperation of the parties on the development and implementation of wind farm projects in the region. The investment decisions will be taken on a case by case basis.
“The investment project for construction of wind power plants is very significant for Saratov Region. It is future development of the region's energy potential on the level of the whole country. This project has a bright future, and regional authorities are ready to support its successful implementation. I am sure that partnership will develop even further”, said Valeriy Radaev.
“Saratov Region is one of the industrial powerhouses of the Volga area, and we are convinced that wind power projects will drive further energy infrastructure development and increase of the carbon-free generation in the region”, noted Alexander Chuvaev.
The Fortum-Rusnano wind investment fund (50/50 ownership) was established with the purpose of investing in the construction of wind farms. Following the wind auctions in Russia the fund was selected to construct almost 2 GW of wind generation. The wind farms are expected to be commissioned during 2019–2023.
The Ulyanovsk 2 wind farm with 50 MW of generation capacity is the first joint project completed by the partnership. The wind farm started supplying power to the wholesale electricity and capacity market in January 2019.
Earlier, the partners announced their plans to build wind generation in Rostov Region, Republic of Kalmykia, Perm Krai, and Stavropol Krai.
Read more about Fortum's wind and solar in Russia.