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The Fortum-Rusnano wind investment fund (50/50 joint venture) has participated in the latest Russian renewables’ auction. The fund was awarded annual CSA (Capacity Supply Agreement) remuneration in the range of RUB 16.9–23.8 billion (approximately € 200 - € 280 million) for new wind power generation.
This corresponds to wind capacity of approximately 430–530MW per annum (a total of 1.3–1.6GW); to be commissioned during the years 2025–2027. The number of GW finally to be constructed is subject to separate investment decisions. The projects will be covered by CSAs for a period of 15 years from commissioning. The average nominal price is expected to be in the range RUB 2,600–4,200 per MWh (approximately € 30 - € 50 per MWh) during the CSA period. The estimated prices are inflation adjusted.
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