Finnish utility Fortum is starting to cooperate in wind power generation in Russia with Bank GPB, or Gazprombank, which is majority-owned by Russian gas giant Gazprom and its pension fund.

Fortum is transferring a 1.3GW portfolio of wind projects from the Fortum-Rusnano Wind Investment fund to a new joint venture with Bank GPB.

Upon the transfer, the JV with Rusnano will be dissolved.

Fortum holds the investment fund’s 1.4GW