RDIF, Fortum Create Joint Venture For Investment In Russia's Renewable Energy

Sputnik, 31.12.2020

The Russian Direct Investment Fund (RDIF) announced on Thursday that it was setting up a joint venture with European energy company Fortum for investment in Russia's renewable energy

MOSCOW (Sputnik - 31st December, 2020) The Russian Direct Investment Fund (RDIF) announced on Thursday that it was setting up a joint venture with European energy company Fortum for investment in Russia's renewable energy.

"RDIF and Fortum have created a joint venture for investment in Russia's renewable energy sector, and announce investment in acquisition of fully completed and commissioned wind power plants in Ulyanovsk and Rostov regions with total capacity of over 350 MW," RDIF said in a press release.

"Investment in projects with protected long-term profitability is one of our priorities. Partnership with Fortum for joint investment in the renewable energy sector is aimed at creating a major player in the promising sector of the Russian economy, it will contribute to implementation of the 'Ecology' national project. Development of renewable energy will guarantee Russian regions' energy security in compliance with the highest environmental standards," RDIF CEO Kirill Dmitriev said.