Finnish Fortum is suing Danish Vestas over Russian business

Finnish energy company Fortum is suing Danish wind turbine manufacturer Vestas over business in Russia. This was reported by the representative office of Fortum, writes “RIA News”.

“Fortum has held several discussions and negotiations with Vestas to find a solution to a commercial breach of contract dispute that arose even before the imposition of EU sanctions against Russia in the energy sector,” the Finnish company said.

in vestas told Reuters that Fortum is seeking about 200 million euros in compensation for wind farm projects for the Russian Federation, which the Danish turbine manufacturer stopped supplying due to Western sanctions.

After the start of the special operation, Vestas announced that it would suspend the order of 253 MW turbines for four projects that the Russian structure Fortum (Fortum WEDF) ordered in September 2021.

In the summer of 2022, the deal to sell the Russian assets of the Finnish Fortum, Fortum GenCo (98.25%), was suspended. By that time, the acceptance of applications from potential buyers was completed, including – AFK Sistema“Gazprombank» and Invest AG businessmen Alexander Abramov and Alexander Frolov.

In February, a Finnish company reportedthat the sale of the main assets is a “priority route” for the company, but the process of selling the assets “is associated with significant uncertainties.” “Such as regulatory approval of the deal. For this reason, it may take some time for Fortum to complete the process,” the Finnish company said at the time. At the same time, Fortum estimated the value of its Russian assets at 1.7 billion euros.