Wind Energy Development Fund’s Third Wind Farm Begins Its Commercial Operations in Rostov Region

01 June 2020

On June 1, 2020, the Gukovskaya Wind Farm, with the installed capacity of 100 MW, began supplying power to the wholesale electricity market (WEM). The wind farm is the third completed facility of the Wind Energy Development Fund (a joint investment fund established in equal partnership by PAO Fortum and RUSNANO Group) in the Rostov Region.

Wind Energy Development Fund’s Third Wind Farm Begins Its Commercial Operations in Rostov Region

The Gukovskaya Wind Farm comprises 26 wind turbines (each with a capacity of 3.8 MW), made by Vestas. With participation of RUSNANO Group, manufacturing of key components, i.e. turbine blades and towers, was localized in Ulyanovsk and Taganrog (the Rostov Region). Gondolas are assembled at a plant in Dzerzhinsk (Nizhny Novgorod Region). As confirmed by the Russian Ministry of Industry and Trade, more than 65% of the equipment used in wind farm is manufactured in Russia.

With the Gukovskaya Wind Farm commissioning, the total power generating capacity of the Fund’s wind farms in the Rostov Region is, at present, 300 MW. The Fund’s portfolio of completed projects in the Rostov and Ulyanovsk Regions now includes four wind power plants (their combined capacity is equivalent to 350 MW). Currently, wind farms of 476 MW total capacity are at various stages of completion in Russia.

The Wind Energy Development Fund was established by its co-founders with the aim of investing in the construction of wind power plants. The Fund is managed by Vetroenergetika Managing Company, owned in equal parts by PAO Fortum and RUSNANO Management Company LLC. Following a competitive bidding process to select investors in projects to build renewable energy source-based power generating facilities, the Fund won the right to construct WPPs with a capacity of 1,823 MW. The wind farms are expected to start operating by 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 126 factories and R&D Centers opened in 38 regions in Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company.

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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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.

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