October 14 (Renewables Now) - The Fortum-Rusnano wind investment fund has entered into a non-binding cooperation agreement with the government of Russia’s Orenburg Region to build up to 200 MW of wind farms in the period 2021-2023.
Under the terms of the deal, the parties will take investment decisions for the projects on a case by case basis.
Fortum-Rusnano is a 50/50 partnership between Finnish utility Fortum Oyj (HEL:FORTUM) and Russian nanotechnology company Rusnano. It won 1,823 MW of wind power capacity in the country’s wind auctions held in 2017 and 2018.
The first project completed by the partnership is the 50-MW Ulyanovsk Wind Farm 2, which began supplying power to the wholesale electricity and capacity market in January 2019.