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Fortum's 90-MW wind project cleared for renewables program

Fortum Oyj's 90-MW Kalax wind project in Närpes, Finland, has qualified for the Finnish national renewables program.

The project will receive a support of €2.87/MWh if the market price for power is below €30/MWh. "The granted premium is very low, but will offer some additional compensation on top of the spot price, should market prices be very low," said Joonas Rauramo, vice president of wind generation at Fortum.

The program was opened up for a total of 1,400 GWh of annual generation. Upon completion, the Kalax project is expected to generate about 300 GWh of electricity annually.

The project is still pending a final investment decision by Fortum. As per the renewables program, the approved projects must be commissioned within three years from approval.