By Dominic Chopping 

Finnish state-controlled utility company Fortum Oyj said Tuesday that its wind investment fund joint venture with Rusnano OJSC has been awarded a wind power generation deal in the latest Russian renewables auction.

The fund was awarded an annual capacity supply agreement worth between 16.9 billion and 23.8 billion rubles ($230 million to $323.9 million) for new wind power generation, corresponding to wind capacity of 430 to 530 megawatts a year; to be commissioned during the years 2025-27.

The projects will be covered by capacity supply agreements for a period of 15 years from commissioning, with the average nominal price expected to be in the range of RUB2,600 to RUB4,200 per megawatt during the period.


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(END) Dow Jones Newswires

September 21, 2021 09:25 ET (13:25 GMT)

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