Fortum to sell coal-fired plant to Rosatom

Finnish utility Fortum said on Thursday it would sell its Argayash coal-fired heat and power plant to JSC Rusatom Smart Utilities, a subsidiary of Russian state-owned Rosatom. Fortum added it aimed to stop using coal in Russia by end of 2022 as part of its strategy to target carbon neutrality by 2050. Germany’s Uniper, in which Fortum owns a 75% stake, is also looking into selling its Russian power plants, people familiar with the matter told Reuters in May. The plant being sold has a heat production capacity of 824 megawatts (MW) and power generation capacity of 256 MW, out of the 4,928 MW Fortum has in Russia, according to its website.