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Fortum has won the rights of Karnataka Renewable Energy Development Limited to build a 250 MW solar power plant
in the Pavagada Solar Park in Tumkur district, Karnataka, India.
The plant is expected to come on stream
in the third quarter of 2019.
Capital expenditure is estimated at around €120 million and the solar park is entitled to a fixed tariff
of INR 2.
85/kWh for 25 years.
Fortum already owns and operates a 100 MW solar plant
in Pavagada Solar Park.
Senior Vice President, Solar & Wind Development and M&A, said, "We are delighted to launch a new solar development project
in India.
We have accumulated rich experience in India and we have successfully developed solar power for many years
.
As a continuation of our previous deal to sell a stake in our existing facility in India and work with UK Climate Investment and Elite Alfred Berg, Fortum now continues to grow its solar portfolio
.
”
Fortum's goal is to increase its solar and wind portfolio to gigawatt scale
in its home market.
Fortum's business model in the renewable energy sector includes the development, construction and asset management of solar and wind assets, as well as selective collaboration
with financial investors once the plant is commissioned.
The company currently has 185 MW of solar power in India and 35 MW
in Russia.
Together with three more projects currently under construction and large-scale projects in Northern Europe and Russia, Fortum's total operating wind project capacity reaches 142 MW
.
:/, please indicate the source for reprinting)
Fortum has won the rights of Karnataka Renewable Energy Development Limited to build a 250 MW solar power plant
in the Pavagada Solar Park in Tumkur district, Karnataka, India.
The plant is expected to come on stream
in the third quarter of 2019.
Capital expenditure is estimated at around €120 million and the solar park is entitled to a fixed tariff
of INR 2.
85/kWh for 25 years.
Fortum already owns and operates a 100 MW solar plant
in Pavagada Solar Park.
Senior Vice President, Solar & Wind Development and M&A, said, "We are delighted to launch a new solar development project
in India.
We have accumulated rich experience in India and we have successfully developed solar power for many years
.
As a continuation of our previous deal to sell a stake in our existing facility in India and work with UK Climate Investment and Elite Alfred Berg, Fortum now continues to grow its solar portfolio
.
”
Fortum's goal is to increase its solar and wind portfolio to gigawatt scale
in its home market.
Fortum's business model in the renewable energy sector includes the development, construction and asset management of solar and wind assets, as well as selective collaboration
with financial investors once the plant is commissioned.
The company currently has 185 MW of solar power in India and 35 MW
in Russia.
Together with three more projects currently under construction and large-scale projects in Northern Europe and Russia, Fortum's total operating wind project capacity reaches 142 MW
.
:/, please indicate the source for reprinting)
/
