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    Fortum and Vestas reach settlement related to Russian wind energy projects

    FORTUM CORPORATION PRESS RELEASE 10 October 2024 at 5:30 p.m. EET Fortum and Vestas have reached a settlement in a commercial dispute between the companies. The dispute concerned deliveries of equipment for wind parks in Russia for which Fortum had made advance payments to Vestas. The companies entered the contract before the Russian invasion of Ukraine. The settlement entails that both companies waive past, present and future claims related to the dispute at hand. The financial impact of the settlement will be recorded as items affecting comparability in Fortum’s fourth quarter

    Finland’s third largest wind farm inaugurated in Pjelax

    FORTUM CORPORATION PRESS RELEASE 14.5.2024 The Pjelax wind farm of 56 wind turbines, a joint project between Finnish energy companies Fortum and Helen, was inaugurated on Tuesday, 14 May 2024. Located in the areas of Närpiö and Kristiinankaupunki in western Finland, the wind farm will produce more than 1 TWh of wind power annually, around 5% of Finland’s total wind power production. Fortum owns 60% of the wind farm, while Helen owns 40%. Helen will purchase around 50% of the wind farm’s electricity production until the end of its life cycle. “With 380 MW, Pjelax will double the wind

    Fortum and Neste enter into long-term electricity sales agreement for Kalax wind farm

    FORTUM CORPORATION ONLINE NEWS 22 October 2019 Fortum aims to engage with customers and society to promote solutions for a cleaner world. As part of the implementation of our strategy, in the spring of 2019 we began construction of the 90-MW Kalax wind farm in Närpiö, Finland. Fortum and Neste have now signed a 12-year electricity sales agreement (PPA) for the project. The contract covers 70% of the plant’s production. The plant will consist of 21 wind turbines and will have an annual output of more than 0.3 TWh. The estimated completion of the plant is towards the end of 2020. “We

    Fortum-RUSNANO wind investment fund starts cooperation in the Kalmykia Region in Russia

    FORTUM CORPORATION ONLINE NEWS 10 October 2018The Government of the Kalmykia Region in Russia, and Fortum-RUSNANO wind investment fund have entered into a non-binding cooperation agreement to build up to 450 MW of wind power plants in 2018–2021. A separate investment decision will be made for each project.The Fortum-RUSNANO wind investment fund is a 50/50-owned investment partnership that was awarded the right to build 1,000 MW of wind power in Russia in 2018–2022 in the RES capacity selection auction that was held in 2017.Fortum CorporationGroup CommunicationsRead more:Read

    Fortum adds 35 MW of wind power to the Russian power market

    FORTUM CORPORATION ONLINE NEWS 12 January 2018  Fortum’s Ulyanovsk wind farm is listed in the registry of capacity from January 2018. The 35 MW power plant is Russia’s first whole sale market wind generation facility. It receives Capacity Supply Agreement (CSA) payments for a guaranteed period of 15 years. The payment reaches 180-200 Euros/MWh. The wind farm is located near the city of Ulyanovsk which is situated some 680 km south-east of Moscow and has 620,000 residents. One of Fortum's four strategic cornerstones is growing in solar and wind. In 2017 Fortum and RUSNANO created

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