Second Wind Power Plant of Wind Energy Development Fund Enters Commercial Production Phase in Rostov Region

06 May 2020

On May 1, 2020 Kamenskaya WPP with installed capacity of 100 MW started supplying electricity and power in full to the wholesale electricity and electric capacity market (WEECM). The first phase of the plant (50 MW) started supplies to the WEECM on April 1, 2020. The wind power plant became the second completed facility of the Wind Power Development Fund (a joint investment fund established on a parity basis by RUSNANO Group and PAO Fortum) in the Rostov Region.

Kamenskaya WPP consists of 26 wind turbines manufactured by Vestas, each with a capacity of 3.8 MW. Production of key components, such as blades and towers, was localized through the agency of RUSNANO Group in Ulyanovsk and Taganrog (Rostov Region). Nacelles are assembled at an enterprise in Dzerzhinsk (Nizhny Novgorod Region). As confirmed by the Russian Ministry of Industry and Trade, more than 65% of the equipment used in Wind Power Plant is manufactured in Russia. This guarantees capacity payments under the rules defining the generation capacity prices for facilities based on renewable energy sources (CSA RES). The wind farm was built near Sulinskaya WPP (100 MW), which started supplies to the WEECM on March 1, 2020.

By the end of the first half of 2020, another wind power plant of the Fund is expected to be commissioned in Rostov Region—Gukovskaya WPP with installed capacity of 100 MW. The commissioning of individual systems is being completed on its territory, and personnel make arrangements for the equipment comprehensive testing. Arrangements are also made to start construction of Kazachya WPP with the installed capacity of 100 MW in the Rostov Region. In addition, the Fund implements projects for construction of wind power plants in the Republic of Kalmykia (200 MW) and in Astrakhan Region (176 MW).

Thus, the portfolio of the Fund’s projects implemented in the Rostov and Ulyanovsk Regions today consists of three wind power plants with a total capacity of 250 MW. Projects with a total capacity of 576 MW are at various stages of implementation.

The Wind Energy Development Fund was established by its co-founders to make investments in the construction of wind power plants. The Fund is managed by Vetroenergetika Management Company which is jointly and equally owned by Management Company RUSNANO LLC and PAO Fortum. Following tenders to select investment projects for the construction of renewable energy generation facilities, the Fund was awarded contracts for 1,823 MW of wind energy. The wind farms are to be put into operation before 2024.

Additional information

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 115 factories and R&D Centers opened in 37 regions in Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.

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The Wind Development Investment Fund was established in equal partnership by Fortum and RUSNANO. The Fund is managed by Vetroenergetika Management Company LLC, owned in equal parts by its partners. The Fund won the right to build wind farms with a capacity of almost 2 GW in a competition aimed at selecting investment projects for building power generating facilities based on renewable energy sources. The wind farms are expected to start operating in the period from 2019 to 2023.

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Fortum is the leading clean energy company that provides its customers with electricity, heating and refrigerating, as well as intelligent solutions for a more efficient use of resources. We want to encourage our consumers and society to become part of the change aimed at making the world a cleaner place. Our company employs about 8,000 professionals in Northern Europe and Baltic countries, Russia, Poland and India. In 2018, our sales revenue amounted to €5.2 bln, with 57% of our electricity generated without CO2 emissions. Fortum shares are traded on the Nasdaq Helsinki stock exchange.

For additional information, please visit fortum.com

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PJSC Fortum is part of the Russia Division of Fortum Corporation, which also includes Fortum’s participation in PJSC TGC-1 (29.5%). The Company is engaged in the production and sale of electricity and heat. The Russia Division comprises eight thermal power plants located in the Urals and Western Siberia, a wind farm in the Ulyanovsk Region and three solar power plants in the Orenburg Region and the Republic of Bashkortostan. As of June 30, 2019, the total installed capacity of generation facilities for electricity is 4,928 MW and 8,437 MW for heat.

For additional information, please visit fortum.ru