Fortum has commissioned a 70-MW solar project in India

​FORTUM CORPORATION ONLINE NEWS 3 April 2017

Fortum has commissioned a 70-MW solar plant at Bhadla solar park in Rajasthan, India on March 31. The solar plant is Fortum's third and so far biggest commissioned solar energy project.

Fortum 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 Limited (NTPC), India's largest power utility.

Fortum currently has an 85-MW solar capacity in India, with three solar power plants in the states of Rajasthan and Madhya Pradhesh. Fortum is currently building a 100-MW solar power plant in Karnataka, India. 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 longer-term competitiveness. Fortum seeks to allocate its planned growth capital in the range of EUR 200–400 million in solar projects in India.

Fortum Corporation
Group Communications

Further information:
Tero Era, Head of Communications in Solar, Wind and New Ventures, +358 50 541 6337

Fortum
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com