FORTUM CORPORATION INVESTOR NEWS 15 June 2017 08:45 EEST
1,000 MW of the bids of the Fortum-RUSNANO wind investment fund were selected in the Russian wind auction. Fortum's stake in the wind investment fund is 50%. The bids are for projects to be commissioned during the years 2018-2022 with a price corresponding to approximately EUR 115-135 per MWh. The projects will be covered by Capacity Supply Agreements (CSA) for a period of 15 years.
The investments decisions will be made on a case-by-case basis within the total mandate of the wind investment fund. Fortum’s equity stake in the wind investment fund totals a maximum of RUB 15 billion (currently approximately EUR 240 million).
Fortum announced the establishment of the wind investment fund on 27 April 2017.
A total of 1,900 MW for the years 2018-2022 was available in the Russian wind auctions held from 29 May to 9 June 2017. The bids in the auction totalled 2,491 MW.
Fortum Corporation
Måns Holmberg, Acting Head of Investor Relations and Financial Communications
Additional information:
Investor Relations & Financial Communications, Måns Holmberg, tel. +358 44 518 1518, Rauno Tiihonen, tel. +358 10 453 6150, Pirjo Lifländer +358 40 643 3317, and investors@fortum.com
Investor news on 27 April 2017: Fortum and RUSNANO establish investment partnership to create possibility to capture CSA wind opportunity in Russia
Distribution:
Nasdaq Helsinki
Key media
www.fortum.com
Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com