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Fortum, Rusnano ink deal to develop up to 200 MW of Russian wind

Fortum Oyj and Rusnano Capital LLC's joint venture signed a nonbinding cooperation agreement with the government of Russia's Orenburg region for the construction of up to 200 MW of wind farms from 2021 to 2023.

The agreement outlines the principles of the parties' cooperation in the development and implementation of the wind projects, which will sell power to the wholesale market, according to an Oct. 11 news release.

"Orenburg region has been a leader in solar energy for a long time now, but the region's wind potential and experience in operation of small wind power plants make it attractive for commercial-scale wind farm projects as well," said Alexander Chuvaev, CEO of the Fortum-Rusnano wind investment fund.

In February, the fund signed a similar agreement with the government of the Saratov region in Russia to build up to 300 MW of wind energy capacity.