Fortum-Rusnano fund greenlights 100-MW wind project in Russia

The Fortum-Rusnano wind investment fund has taken the investment decision to build a 100-MW wind park in Russia, it announced on Friday. The fund expects this wind farm to begin production in the first half of 2020. Fortum-Rusnano is a 50/50 partnership between Finnish utility Fortum Oyj (HEL:FORTUM) and Russian nanotechnology company Rusnano. It won […]


RUSSIA: Developers have claimed they can build projects at capital expenditure (Capex) costs ranging between RUR 59,339/kW (€804.07/kW) and RUR 130,404/kW (€1,767.04/kW) in the latest Russian tender. The Russian Association of the Wind Industry (RAWI) stated that bids between RUR 59,339/kW and RUR 80,305/kW were entered for 823.3MW – nearly the full 830MW allocation available […]

Russia tender hugely oversubscribed

Applications totalling 2.21GW have already been submitted in the procurement process, suggesting fierce competition. Successful bidders will secure power supply contracts, under which they will receive top-up payments for 15 years. Last year’s tender was divided among three large players: Finnish Fortum with Rusnano secured a 1GW portfolio of projects; VetroOGK, part of Rosatom, won […]

Enel Russia plans to put into operation wind farm in Rostov region in 2020

The wind park located in the Murmansk region is expected to be put into operation in December 2021. “The first wind farm will be commissioned in December 2020, the second one, in Murmansk, is scheduled for December 2021,” she noted. Earlier it was reported that Enel Russia was investing €132 million in a project for […]

Gazprombank increases stake in VetroOGK

RUSSIA: Gazprombank, one of the country’s largest banks, has signed an agreement with nuclear firm Rosatom to buy a 49.5% stake in its VetroOGK wind development subsidiary. VetroOGK has a wind capacity pipeline of about 970MW in Russia to be built in 2018-2022, following success at recent auctions. This accounts for 40% of all wind […]