A collaboration agreement was signed in Moscow on the 23rd of December 2015 by Sergey Morozov, the Ulyanovsk region Governor, Sergey Vasin, CEO of the Ulyanovsk Region Development Corporation and Alexander Chuvaev, Executive Vice President for Fortum's Russian segment.

“When developing the strategy of the region, which is based on knowledge economy and technology entrepreneurship, we especially focused on the development of alternative energy, because it is promising for the future. The present agreement is the first step in this direction. Fortum company is a reliable partner with extensive experience in energy production from renewable sources. I can assure you that the project collaboration will be successful. We are planning to extend our cooperation in the near future. The output capacity of the facility will be further increased to at least 250 MW. I am going to ask the Development Corporation of the region to conduct wind monitoring across the municipal districts of the region aimed at the creation of extra capacity for wind energy,” Sergey Morozov said.

The total amount of investments into the project will be 65 million EUR. Construction is planned to start in 2016 and finish in 2017.

“Low pollution energy production has been a key strategy for Fortum for a long time already. One of our major global goals is to increase investments into renewable energy sources, first and foremost into water, wind and solar energy generation,” Alexander Chuvaev explained. “This project is one more example of the positive steps that we are taking to develop clean, intellectual and effective solutions in electrical energy production. I would like to compliment Governor Sergey Morozov and his team for the support they are giving this project.” The interest of the regional authorities in the attraction of large strategic investors is a cornerstone of the successful development of the region and the creation of new jobs,” he added.

According to Sergey Vasin, CEO of the Region Development Corporation, the investor will get support throughout the project, including help in the selection and documentation of the sites for the wind farm.

“Most of the work had been performed before signing the agreement. We have created the infrastructure, conducted the necessary investigation with our partners and received their requirements. We found an investor for the demand and together worked on the incentives including federal incentives. For this purpose, the Governor appealed to Arkadiy Dvorkovich, who believes in this project. Today Fortnum is the leader of alternative energy in the Russian market,” Alexander Smekalin, the First Deputy Chairman of the Ulyanovsk region, said.

Construction of a wind farm by Fortum is the first stage of alternative energy development in our region. The Ulyanovsk NanoCenter ULNANOTECH; together with its partners and two other nanocenters within the RUSNANO network – Technospark in Troitsk and Sigma in Novosibirsk; will create the company for the integration of renewable energy projects. The next stage will be the localization of components production for wind turbines in the region.

Reference information:

Fortum corporation produces efficient electricity and thermal energy without carbon dioxide emissions. Fortnum main office is located in Espoo, Finland Number of employees is about 8, 400 people.