25 Aug 2022 09:54

Fortum still intent on existing Russian asset, assessing new legislation

MOSCOW. Aug 25 (Interfax) - Finnish energy company Fortum is still "pursuing a controlled exit from the Russian market with a potential divestment of the operations as the preferred path," the company said in its report for the first half of 2022.

The company is assessing the possible implications of new Russian legislation that prohibits investors from "unfriendly" countries from making purchase-sale transactions with stakes in strategic companies, including in the energy sector.

Fortum also recalled that it has suspended new investment in Russia, so the fate of wind power projects totalling 1.9 GW remains unclear at this point.