By Dominic Chopping 
 

Finnish state-controlled utility company Fortum Oyj said Tuesday that its wind investment fund joint venture with Rusnano OJSC has been awarded a wind power generation deal in the latest Russian renewables auction.

The fund was awarded an annual capacity supply agreement worth between 16.9 billion and 23.8 billion rubles ($230 million to $323.9 million) for new wind power generation, corresponding to wind capacity of 430 to 530 megawatts a year; to be commissioned during the years 2025-27.

The projects will be covered by capacity supply agreements for a period of 15 years from commissioning, with the average nominal price expected to be in the range of RUB2,600 to RUB4,200 per megawatt during the period.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

September 21, 2021 09:25 ET (13:25 GMT)