Finland's Fortum has established a joint venture with the state-owned Russian development company Rusnano. The partnership's purpose is to secure potential access to Russian subsidies for wind projects (CSA), announces Fortum in a corporate statement.
Fortum plans to inject upwards of RUB 15 billion (EUR 240 million) in the 50/50 joint venture. This amount will be invested in Russian wind turbine projects over a five-year period, however this depends on the outcome of Russian auctions and fundamentally on Russian conditions for establishing a domestic supply chain which can deliver enough locally produced content to qualify for support.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.
More from EnergyWatch
A trader at KPI Oceanconnect, a subsidiary of Bunker Holding, has been charged with corruption totaling at least USD 191,250 as rewards for nominating Straits for the supply of bunker fuel to KPI's customers. The employee has been suspended and his contract terminated, the company informs ShippingWatch.