Fortum bags 150MW solar and 823MW wind capacity in Russia auction

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Fortum aims to create a gigawatt-scale solar and wind portfolio. Credit: Fortum

Finland's Fortum has won 110MW of solar capacity in Russia’s Capacity Supply Agreement (CSA) auction.

The projects are due to be commissioned in the years 2021-2022 under a guaranteed power price of around €150/MWh (US$174.8) for a period of 15 years.

In the same auction, the wind investment fund Fortum-Rusnano, which is 50% owned by Fortum, won 823MW of wind capacity. The wind parks are to be commissioned during the years 2019-2023 with guaranteed power price of around €60-90/MWh for 15 years.

In June 2017, Fortum-Rusnano was awarded 1GW of wind power to be commissioned by 2022, of which 50MW is currently under construction.

Fortum will commit RUB15 billion (~€215 million) to the projects, covering the solar capacity and its share of the wind projects.

Fortum aims to create a gigawatt-scale solar and wind portfolio. Out of its 362MW wind and solar capacity, 70MW is located in Russia, 35MW in the Ulyanovsk wind park and 35MW in the solar parks in the Orenburg region and Bashkortostan.

The firm recently signed an agreement to sell a 54% share of its solar power company that operates four solar plants in India, with an aggregate capacity of 185MW, to UK Climate Investments (UKCI) (40%) and Elite Alfred Berg (14%).

Read Next

July 29, 2021
Unigreen Energy, owned by Hevel majority shareholder Ream Management LLC, has broken ground on a wafer and cell manufacturing plant that will produce 1.3GW of silicon n-type monocrystalline ingots and wafers as well as 1GW of heterojunction technology (HJT) solar cells.
PV Tech Premium
July 9, 2021
Solar’s dominance in recent renewables auctions in Poland has further reinforced the promising outlook for the market, with developers and analysts welcoming support provided for the construction of smaller projects.
June 28, 2021
Solar PV bidders picked up around 2.2GW of capacity in Poland’s latest renewables auctions, the country’s Energy Regulatory Office (URE) has announced.
June 22, 2021
Finnish utility Fortum has secured a deal to divest two solar projects in India totalling 500MW of capacity to private equity firm Actis.
June 3, 2021
Abu Dhabi-based Masdar has won a tender to build a 457MW solar plant in Uzbekistan, taking the developer’s awarded PV capacity through the country’s tenders to almost 1GW.
May 27, 2021
Oil and gas company Lukoil has commissioned a 20MW PV plant that features heterojunction (HJT) modules from Hevel and has been constructed at a refinery in Russia’s southern Volgograd region.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK