Fortum abandoned part of the projects for the construction of wind turbines
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As expected “b”, Finnish Fortum abandoned a third of its wind farm projects in Russia. We are talking about 460 MW projects received at the 2021 tender at record low prices of 1.72–1.99 rubles. for 1 kWh. Their planned launch is 2025–2027. The issue was considered on Friday, December 23, at an absentee meeting of the supervisory board of the Market Council (energy market regulator), several sources told Kommersant.
The Market Council confirmed to Interfax that two structures of Fortum (controlled by the Finnish Fortum) – the Twelfth Wind Farm FRV and the Sixteenth Wind Farm FRV – are deprived of the right to trade electricity on the wholesale market from 2023 due to the refusal of contracts for the supply of power capacity of part of their wind farms. In total, in 2021, Fortum won 1.39 GW of wind farms, or 75% of the entire capacity quota, due to a record reduction in the single-bid price in applications.
In “Fortum” they said that they had abandoned “some part of their portfolio that cannot be paid off in the current conditions.” These volumes will be raffled off again at subsequent selections of renewable energy projects, in which Fortum, among other things, can take part, the energy company notes. The next competition is scheduled for spring 2023.
Now the ministries are discussing additional price indexation of renewable energy projects selected in 2021. Investors are asking to increase delivery prices by 20.4% instead of 8.4%. Ministry of Economy, Ministry of Industry and Trade supported accelerated indexation, and the Ministry of Energy opposed such a measure.
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