The Fortum-Rusnano wind investment fund has made an investment decision to build 236.6MW of wind power parks in the Samara region in Russia.

The wind parks are planned to be commissioned in the fourth quarter of 2022.

The investment decision on the projects follows the signing of non-binding wider cooperation agreement with the Government of the Samara Region, for the construction of up to 300MW wind parks in the region in 2022-2023.

Gazprombank, a private-owned Russian bank, is providing financing for the project.

The new wind power projects are a part of the 1,823MW wind portfolio that the fund received in 2017 and 2018, in Russia.

Fortum Russia Division executive vice president Alexander Chuvaev said: “We are glad to expand the geography of our wind power production to the Samara region, one of the leading industrial centres of Russia.

“We are certain that implementation of renewable energy projects will enable further development of the energy infrastructure of the region.”

Established by PAO Fortum and the Rusnano Group, Fortum-Rusnano wind investment fund is aimed at investing in wind energy in Russia.

Its portfolio of fully assets comprises seven wind power plants with total capacity of 600MW, with 350MW in Ulyanovsk and Rostov region sold to the joint venture of Fortum and RDIF.

The fund has 731.6MW of projects under construction that include 50MW in Rostov region, 340MW in Astrakhan region, 105MW in Volgograd Region and 236.6MW in Samara region.

Separately, Fortum has signed four new Memorandums of Understanding (MoU) with a natural gas supplier Novatek, Russian steel producer Magnitogorsk Iron and Steel Works (MMK), Baker Hughes, and Shell for the supply of green energy.

The new agreements are said to support the company’s strategy to partner with industrial and infrastructure partners to help reduce the emissions of their operations.

In Russia, Fortum already delivers green energy to the AB InBev and Unilever production facilities, Sberbank, Air Liquide, Shchekinoazot Chemical Company, P&G and Leroy Merlin.

Fortum Russia Division executive vice president Alexander Chuvaev said: “We are convinced that green energy is able to support the decarbonisation of the most important sectors of the Russian economy.

“As for the energy industry, growing conscious demand for green energy from industrial customers is yet another market stimulus for commissioning new green energy generation capacities.”