 "Finnish firm Fortum commissions 70-MW solar project in Rajasthan")
Finland-based Fortum has commissioned a 70-MW solar plant at Bhadla solar park in Rajasthan. The solar plant is Fortum's third and so far biggest commissioned solar energy project.
The power plant, a reverse auction for which was won by Fortum in January 2016, 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 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 Euro 200-400 million in solar projects in India.
The Finnish firm, which is one of the leading clean-energy companies, employees about 8,000 professionals in the Nordic and Baltic countries, Russia, Poland and India. The company recorded sales of Euro 3.6 billion in 2016 and 62 percent of its electricity generation is CO2 free.
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