Fortum has commissioned a 70 MW solar power project
Fortum has commissioned a 70 MW solar plant at Bhadla solar park in Rajasthan. The solar plant is the company’s third and so far biggest commissioned solar energy project. The company won a reverse auction for the project in January 2016 and the building of the solar plant was conducted on schedule.
The power plant will operate based on a power purchase agreement (PPA) with a fixed tariff for 25 years. The power purchase agreement has been made with National Thermal Power Corporation Ltd (NTPC).
Fortum currently has an 85 MW solar capacity in India, with three solar power plants in Rajasthan and Madhya Pradhesh. It is currently building a 100 MW solar power plant in Karnataka. The 100-MW solar power plant also will get a fixed tariff for 25 years and is expected to be commissioned during the first half of 2017. Fortum is targeting a gigawatt-scale solar and wind portfolio as part of securing its longerterm competitiveness.
Fortum seeks to allocate its planned growth capital in the range of EUR 200–400 million in solar projects in India.