RDIF, Fortum to invest into Russia’s largest solar power plant

MOSCOW, Mar 1 (PRIME) -- The Russian Direct Investment Fund (RDIF) and Finnish power producer Fortum plan to invest in construction of Russia’s largest solar power plant in the republic of Kalmykia, the fund said in a statement on Monday.

“The RDIF and Fortum, the leading power company in North Europe and the leader in renewable power generation in Russia, will invest in construction of a solar power plant with a capacity of 116 megawatts (MW) in the republic of Kalmykia. The plant will become the largest solar power generation facility on the territory of Russia,” the RDIF said.

The fund and Fortum will create a joint venture, which will unite wind power plants in the Ulyanovsk and Rostov regions with a combined capacity of 350 MW.

The first stage of the solar power plant with a capacity of 78 MW will start supplies to the wholesale power and capacity market in October–December 2021. The plant will reach its full capacity in July–December 2022.

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