Fortum Plans More Investment In India’s Green Economy

Finland-based Fortum group plans to make additional investments in the green energy in India.

The company, which had announced plans to invest €400 million in India’s solar power market, is looking to develop more projects in the country.

The company currently operates 15 MW solar PV project and recently secured two projects with 170 MW capacity through competitive auctions.

One of those projects will be part of NTPC’s Badhla solar power park in the western state of Rajasthan. The 70 MW project was secured by Fortum at a record low tariff of Rs 4.34/kWh (US¢6.5/kWh) which remains that lowest-ever tariff in India till date.

It also secured a 100 MW project in yet another solar power. The project shall come up in the southern state of Karnataka and will sell power at Rs 4.79/kWh (US¢7.2/kWh).

The company also plans to set up waste-to-energy projects in India. The government has come out with specific guidelines for encouraging developers to set up such projects.

Fortum also plans to offer cloud-based services for managing infrastructure linked to electric vehicles. While electric vehicles have not gained any market in India whatsoever the government does have some exceedingly ambitious plans regarding electric mobility.

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