Fortum is initiating cooperation in wind power generation in Russia with Bank GPB. For this purpose, 1.3GW portfolio of wind projects is being transferred from the Fortum-Rusnano Wind Investment fund (50/50 joint venture) to a joint venture recently established with Bank GPB.
Upon the transfer, the joint venture of Fortum-Rusnano Wind investment fund will be dissolved. Fortum holds the investment fund’s most recently (wind auction in September 2021) awarded 1.4GW of wind capacity for new wind power generation to be commissioned during the years 2025–2027. Fortum and Rusnano continue to assess cooperation for joint future development of this project portfolio. The investment decisions related to the wind capacities are made on a case-by-case basis.