Fortum connects 100-MW solar plant to grid in India
Finnish power company Fortum announced today that it has connected a 100-MW solar plant to grid at Pavagada solar park in the Tumkur District, Karnataka, India. This solar plant more than doubles Fortum’s solar production capacity in India from 85 to 185 MW, being Fortum’s fourth, and so far biggest solar energy project built.
In April 2016, Fortum won a bid in a reverse auction for 100 MW of the total of 500 MW capacity auctioned. The bid included a fixed tariff of 4.79 INR/kWh for 25 years. Fortum’s 100 MW is the first part of the Pavagada solar park that has reached its full capacity and is connected to the grid.
Fortum wins bid for 100 MW solar power park in a reverse auction in Karnataka, India, with a… https://t.co/Z9FtowzPCe
— Fortum Global (@Fortum) April 13, 2016
Kari Kautinen,SVP M&A and Solar and Wind development said:
“We are excited to be able to connect our fourth solar plant to grid. We look forward to continue to develop our business and look opportunities to leverage our knowledge and experience obtained in our projects.”
Sanjay Aggarwal, Managing Director, Fortum India said:
“I am especially proud that we once again completed our solar project on time and according to plan.”
Fortum is targeting a gigawatt-scale solar and wind portfolio as part of securing its longer-term competitiveness. Based on its strategy, Fortum seeks to allocate its planned growth capital in the range of EUR 200–400 million in solar projects in India. In November, Fortum signed an agreement to acquire 35 MW of solar production in Russia.
Source: Press Release by Fortum. Image Credit: zak zak/Flickr (CC BY 2.0). Logo: Fortum.
