Fortum renamed Forward Energo

CHELYABINSK. Aug 30 (Interfax) - PJSC Fortum has changed its corporate name to PJSC Forward Energo, and the change was registered in the Unified State Register of Legal Entities on August 29.

As reported, the name change was approved by shareholders at an extraordinary meeting on August 22, and the appropriate changes to the charter were also approved.

Earlier, the company's press service noted that the renaming would not affect the company's activities in any way and "is connected with certain issues of regulation in the field of the use of intellectual property." A rebranding is also planned.

At the end of April, the Russian President introduced temporary management of the Russian assets of Fortum and Uniper by decree. Specifically, 83.73% of the shares of Unipro and 98.23% of the shares of Fortum were affected by the decree. The Federal Property Management Agency was appointed interim manager.

After that, the boards of directors of the companies, at the request of the Federal Property Management Agency, hired new general directors. Fortum appointed Vyacheslav Kozhevnikov from Bashneft .

The structure of Forward Energo includes seven thermal power plants located in the Urals and Western Siberia. The energy company, including its joint ventures, is also the largest player in the Russian renewable energy market with a total project volume of about 3.4 GW.