Fortum wins bid from NTPC for solar PV project

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15 April 2016, Nuclear, Solar, Wind

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Fortum secured 100 MW in this bid. The solar power plant will be built in Pavagada Solar Park in Tumkur District Karnataka in India with a fixed tariff of 4.79 INR/kWh for 25 years.

"We are excited to become a successful bidder in the reverse auction process. Solar has always been a focus area for Fortum in India. The country provides a good platform for Fortum to further develop its business in solar also elsewhere. Fortum seeks to allocate of its planned growth capital in the range of EUR 200 - 400 million in solar projects in India", Sanjay Aggarwal, Managing Director, Fortum India said.

Fortum currently has 15 megawatts of solar capacity in India. In January 2016, Fortum won a reverse auction for a 70 MW project with a fixed tariff for 25 years.

Source: MarketLine

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