The Finnish Fortum power company may invest RUB 27 bln in its assets in Russia by 2023, said Igor Artemyev, head of the Federal Anti-Monopoly Service of Russia.
For ten years Fortum has invested more than 4.5 billion euros in the Russian energy industry and introduced more than 2.8 GW of new generating capacity, according to the results of the meeting of Alexander Novak, the Minister of Energy, with Pekka Lundmark, the CEO of Fortum corporation, and Alexander Chuvaev, the Director General of the Russian Division of the Company .
"The parties discussed the results of the company's ten-year activities in Russia . In particular, the head of the Ministry of Energy noted that the company's investment in the Russian energy sector exceeded 4.5 billion euros during this time," the report states.
Finnish developer Fortum has kicked off commercial operations at its 35MW Ulyanovsk wind farm in Russia.
The company said the site will receive 15 years of Capacity Supply Agreement payments that will be between €180 and €200 per megawatt-hour. Ulyanovsk is located near the city of the same name some 680km south east of Moscow.
The wind farm is part of the Renewable Projects Competitive Selection, administered by the Russian power market regulator, the goal of which is to increase renewable power generation in the country.
Fortum of Finland is increasing its presence in the Russian renewable generation market by purchasing three 35 MW power plants from Hevela, the JV of Victor Vekselberg's Renova and Rosnano. The company's green portfolio used to include only wind generation. According to analysts' valuations, the deal amount may stand at RUB 5.5 to 7 BN.
The Wind Energy Development Fund, established by Rosnano and Fortum, a Finnish energy company, announced a tender to attract loans totaling 70 billion rubles for implementation of a wind farms construction project in Russia. Several Russian banks, including Sberbank, participated in the tender, as Anatoly Chubays, the Rosnano’s Chairman of the Board, told journalists during the Russian Energy Week.
E.On will sold their stake in Uniper, which owns one of the largest energy companies in Russia, to the Finnish Fortum. The latter sees great prospects in Russia
The German E.On is negotiating the sale of the remaining 46.65% in Uniper to the Finnish Fortum, according to the German company. The relevant agreement may be signed in 2017. E.On expects to get 3.8 billion euros, i.e. the whole Uniper has been evaluated at €8.05 bln. In September 2016, E.On sold 53% in Uniper in the IPO on the Frankfurt Stock Exchange. Thus, after the closing of the deal in 2018, the German company will leave the project.
The Finnish Fortum energy company, owning thermal generation facilities in Russia, can be engaged in a massive construction of wind farms. According to Kommersant, the Company, through a joint fund with Rosnano, can build in Russia up to 1.4 GW; the projects’ payback will be provided due to increased payments from the wholesale energy market. According to analysts’ estimates, if these plans are implemented by Fortum and Rosnano, their investments in the wind can reach $ 3.24 billion.
The Finnish energy company Fortum invited the government of the Tyumen Region to build waste recycling plants in the region, as the Region’s Governor Vladimir Yakushev told.
“The Fortum Company has an offer. The waste recycling plants of the company are operating in Sweden and Finland; we got acquainted with their technology. There are at least two Russian investors to join this project. In general, the business community has a rather positive attitude towards this topic; they are ready to invest; we can see here a good economic performance”, the Tyumen Region’s Head told us.
According to the regional authorities, the Government of the Ulyanovsk region has agreed to increase the capacity of the wind park created in the region from planned 35 MW to 600 MW.
As reported at the end of November last year, Rosnano and Finland’s Fortum are planning to create a park of wind-generating facilities in the Ulyanovsk region, with investments of about 65 million euros. This wind park is designed for 35 MW capacities.
An agreement on establishment of a wind farm in the Ulyanovsk Region will be signed by the regional authorities, Rusnano and foreign investors. The investments volume will amount to RUB 50 bln at the first stage of the project. This was announced at the Open Innovations forum in Skolkovo, Sergey Morozov, Governor of the Ulyanovsk Region, said.
Fortum, a Finnish concern, put into operation the second power generating unit of Chelyabinsk state regional power plant, Russia. Certified electric power of the unit is 247.5 MW, heat power is 174 MW.
Fortum is planning to invest €65m in a wind farm to be built in the Ulyanovsk region in 2017. An agreement to this effect was signed today in Moscow, according to the Ulyanovsk Region Development Corporation.
“Our total investment in this project will be €65m. The construction is to begin in 2016 and finish in 2017,” the corporation’s spokesman said.
Company's website: www.fortum.com
T: +358 10 4511
Contact: PEKKA LUNDMARK, President and CEO
The Fortum Corporation specializes in producing efficient electric and thermal energy without carbon dioxide emissions. The company also offers related products and expert services in the field of energy to private industrial enterprises and power generating companies. The key regions of Fortum’s presence are the countries of Northern Europe and the Baltic States, Russia and Poland. In 2014, the Corporation's sales amounted to 4.1 billion euros (without taking into account the sold electric grid business), the comparable operating profit, 1.1 bln euros. The company employs about 8 400 people. Fortum shares are listed on NASDAQ stock exchange in Helsinki. The corporate headquarters are located in Espoo, Finland./p>