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Fortum won the right to build 250 MW solar power plant in India


“We are pleased to launch a new solar development project in India. We have gained good experience in India where we have successfully developed solar power for several years. As continuation to the previous transaction in which we sold a stake in our existing plants in India and partnered up with UK Climate Investments and Elite Alfred Berg, Fortum now continues to grow its solar portfolio”, says Kari Kautinen, SVP, Solar & Wind Development and M&A.

Fortum's ambition is to increase its solar and wind portfolio to gigawatt scale in its home markets. Fortum's business model in renewables consists of development, construction and asset management of solar and wind assets, and selective partnering with financial investors once the plants have been commissioned.

The company currently operates solar capacity of 185 MW in India and 35 MW in Russia. Fortum's total operating wind capacity amounts to 142 MW with three additional projects currently under construction and sizeable future pipeline in the Nordics and Russia.

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Wednesday, 17 July 2019 08:20