Fortum Targets Gigawatt-Scale Portfolio in Russian Solar PV and Wind Power Markets
/27th September 2017, FORTUM, RENEWABLE MARKET WATCHTM/ One of Fortum’s overall targets is to create a gigawatt-scale portfolio in solar and wind power. As part of this, the company has increased its renewable capacity in Russia. Fortum took a major step in late 2017 with the Bugulchanskaya, Grachevskaya, and Pleshanovskaya solar power plants' acquisition, when it gained 35 MW of solar power capacity. Altogether, the three plants are capable of fulfilling the electricity needs of about 7,000 households. Russia’s Ministry of Energy recently reported that more renewable capacity was put into operation in 2017 than in the two previous years combined, with solar power plants accounting for the bulk of the 140 MW of newly commissioned capacity. According to Russia Wind Power Market Outlook 2018 - 2027, the country has abundant oil, gas and coal production capacity backed up by enormous reserves. Still, it also has the potential to be a giant in the area of renewable energy. The remaining 35 MW came from Fortum’s new wind farm in Ulyanovsk, listed in Russia’s registry of capacity in January 2018. The first wholesale market wind generation facility in the country, Fortum’s Ulyanovsk wind farm is located some 680 km south-east of Moscow, in an area that is home to 620,000 residents.
The facility adds 35 MW of capacity to the Russian wind power market and has an expected annual production of 85 million kilowatt-hours (kWh). Considering that 1 MW of wind power offsets about 2,600 tons of carbon dioxide emissions each year, this represents a substantial gain in the fight against climate change.
The unique experience Fortum attained from the Ulyanovsk project is invaluable as we move forward in implementing the company’s strategy in the market. Earlier in 2017, Fortum’s investment fund with the nanotechnology company Rusnano was awarded the right to build 1,000 MW of wind power in Russia between 2018-2022 – a win that will enable the company to expand renewable energy production in the country further.
Increasing the generation of carbon-neutral energy is among the most important ways to control climate change. Through its growing presence in Russia’s wind and solar power markets, Fortum can facilitate its transformation towards a low-emission energy system and drive the change towards a cleaner world.
Original article text you may read here: A growing presence in Russia’s wind and solar power markets
More information about this very promising wind power market you may read here: Russia Solar Photovoltaic (PV) and Wind Power Market Outlooks 2018 - 2027