Forward Energy
MMOEX:TGKJ48.72
RUB
-0.67
(-1.36%)
ISIN
RU000A0F61T7
Return %
Stock
S&P 500
1Y
-17.28
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
FRC
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Semi-annual Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Vyacheslav Evgenevich Kozhevnikov
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- Moscow Russian Federation
- IPO Date
- Dec 3, 2014
- Website
- frwd.energy
- Similar Companies
- Business
- Forward Energy (PAO Forward Energo, formerly PAO Fortum; MOEX: TGKJ) is a Russian power generation and utility company engaged in the production, transmission, and sale of electric and thermal energy. Founded in July 2005 as Territorial Generating Company No. 10 (TGC-10) during the restructuring of RAO UES and headquartered in Moscow, Russia, the company operates an extensive portfolio of conventional combined heat and power plants and renewable energy assets with a total installed electrical capacity of approximately 4.6 gigawatts and a renewable energy portfolio exceeding 1.2 gigawatts. The enterprise operates primarily across the Urals and Western Siberia, maintaining major operational hubs in the Chelyabinsk Region, Tyumen Region, and Khanty-Mansi Autonomous Okrug-Yugra, alongside renewable energy installations situated across Southern Russia, the Volga basin, and Siberia. The company organizes its business into two primary segments: Thermal Generation and Renewable Energy. Forward Energy provides a comprehensive range of energy products and utility services, comprising: base-load and peak-load wholesale electricity generation through combined-cycle gas turbine and steam turbine generating units; centralized district heating and hot water supply for municipal utilities, commercial enterprises, and residential consumers; wholesale electricity and capacity trading under national capacity supply agreements; utility-scale wind power generation through regional onshore wind farms; solar photovoltaic energy generation through large-scale solar installations, including the 116-megawatt Arshanskaya Solar Power Station in the Republic of Kalmykia; district heating network maintenance and distribution services; high-pressure industrial steam supply for manufacturing clients; and thermal power engineering, plant modernization, and energy efficiency consulting services. Its core thermal generation facilities include Chelyabinsk CHP-1, Chelyabinsk CHP-2, Chelyabinsk CHP-3, Chelyabinsk CHP-4, Chelyabinsk GRES, and Argayashskaya CHP in the Chelyabinsk region; Tyumen CHP-1 and Tyumen CHP-2 in the Tyumen region; and Nyagan GRES in the Khanty-Mansi Autonomous Okrug. In recent corporate developments, the company underwent fundamental governance and ownership changes after a presidential decree in April 2023 placed its majority shares under the temporary administration of the Federal Agency for State Property Management (Rosimushchestvo), leading to its operational separation and deconsolidation from its former parent company, Finland-based Fortum Oyj. In August 2023, the organization formally rebranded from PAO Fortum to PAO Forward Energo and adopted the Forward Energy corporate identity while retaining its public listing on the Moscow Exchange under the ticker TGKJ. Former parent Fortum subsequently initiated international arbitration proceedings against the Russian Federation concerning the seizure of its assets and the non-repayment of approximately 800 million euros in intercompany loans. Operationally, Forward Energy continues to expand its green energy development pipeline by securing long-term capacity quotas in state renewable tenders, including 249.8 megawatts of wind generation capacity in the Penza region, alongside wind and solar assets planned across the Samara, Rostov, and Amur regions for commissioning through 2031. Concurrently, the company is executing comprehensive thermal modernization projects under the national KOMMOD program to upgrade turbine and boiler units at Chelyabinsk CHP-2, Chelyabinsk CHP-4, and Tyumen CHP-2 through 2029.