FORTUM LAUNCHES ITS FIRST GREENFIELD SOLAR PROJECT IN INDIA

PRESS RELEASE 20 January 2015

Fortum has today launched a greenfield solar PV plant in Madhya Pradesh, India. This solar plant is Fortum's second solar energy project in the country. The 10 MW (AC) solar plant shall offset more than 18000 tonnes of CO2 emissions equivalent annually.

“Fortum believes in responsible energy production focusing on low emissions, high resource efficiency and security of supply. To deliver on our promise we focus more and more on renewable energy sources available locally and that is why we decided to focus on solar energy in India. In my view, such an approach can help India transform its energy sector and Fortum has already shown interest in contributing towards this transformation”, said Mr. Markus Rauramo, Executive Vice President, Heat, Electricity Sales and Solutions segment at Fortum while inaugurating the solar power plant in India.

The new plant is the first greenfield solar project commissioned under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase II. The power plant will be operating based on a Power Purchase Agreement (PPA) signed by Fortum for 25 years with the Solar Energy Corporation of India.

“Fortum is renowned across the globe for their expertise in sustainable energy. We have started to witness a similar replication in India, with their commitment towards promoting solar energy. This is evident through their fast-track project implementation model, and it is our pleasure to congratulate them for the completion of the first project under JNNSM Phase II,” said Dr. Ashvini Kumar, Managing Director, Solar Energy Corporation of India (SECI).

The 10MW (AC) solar power plant spreads over about 70 acres in Kapeli, Dist. Ujjain. Fortum has adopted a thin-film CdTe technology with more than 1,25,000 modules mounted on fixed tilt structures and 15 central invertors, which allows for better control of carbon footprint, water use and energy payback time.

 With the 10 MW solar PV plant in Madhya Pradesh Fortum's solar portfolio has increased to 15 MW. The company is investigating opportunities to build a platform for future growth with solar technology offering, one of the interesting solutions for sustainable and CO2-free energy production. 

Fortum Corporation
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Fortum
Fortum’s purpose is to create energy that improves life for present and future generations. Catering to the versatile needs of our customers, we generate, distribute and sell electricity and heat, and offer related expert services. Our operations focus on the Nordic and Baltic countries, Russia and Poland. In 2013, Fortum’s sales totalled EUR 6.1 billion and comparable operating profit was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are traded on the NASDAQ OMX Helsinki. www.fortum.com