Forward Energo, formerly Fortum, mulling construction of wind farms in Far East

MOSCOW. Nov 14 (Interfax) - Forward Energo (formerly Fortum) is considering the possibility of building wind farms in the Far East, according to the company's procurement materials.

Forward Energo ordered services to analyze the risks and opportunities for logistics of equipment for wind farms in the Far East. The Amur Region, Jewish Autonomous Region, Primorye and Khabarovsk Territories are listed as potential sites for wind farms. The number of construction sites is no more than five, the company's materials say.

The procurement materials do not specify whether this refers to the RES volumes already in the company's portfolio or whether the company is considering participation in new selections under the RES CDA. The next selection of renewable energy projects is scheduled for December 2024, just after the Far East is included in the price zone II of the energy market.

A Forward Energo representative declined to comment.

Forward Energo PJSC (a Russian entity of Finland's Fortum, under management of Roimushestvo since the end of April 2023) is one of the largest investors in the Russian wind power industry. Late last year, the company abandoned part of its RES project portfolio, calling it "unrecoverable under current conditions." At that time, the company noted that investments in these projects had not been made, and did not rule out participation in subsequent RES selections, where this volume could be offered.

Nevertheless, at the new RES CDA tender held in early April, Forward Energo's affiliate Uralenergosbyt LLC won all volumes in the wind power sector.

In addition, in early 2023, at the initiative of Forward Energo, the NP Market Council's supervisory board, amid power companies' problems with equipment, gave renewable energy investors the opportunity to transfer the construction site of renewable energy facilities selected prior to 2021. The transfer must take place 24 months before actual capacity supply begins.

The issue of reducing this period to 13 months has been put on the agenda of the next face-to-face meeting of the council on November 27. The initiator was also Forward Energo, according to Market Council materials seen by Interfax.