Finnish state-owned utility Fortum said its Russian subsidiary acted “against explicit instructions” by taking part in a wind power auction as it distanced itself from any new investments there.

Fortum said its Russian subsidiary PAO Fortum has backed participation by one of its own joint ventures, UralEnergoSbyt, in the tender to build new turbine capacity.

Fortum – previously the biggest player in Russia’s renewables market – has since the invasion of Ukraine been engaged in a complex – and hugely costly – “controlled exit” from Finland’s giant neighbour, and has said it won’t sanction any new Russian investments.