Fortum has now 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.
“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”, says Kari Kautinen, SVP M&A and Solar and Wind development.
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“I am especially proud that we once again completed our solar project on time and according to plan”, says Sanjay Aggarwal, Managing Director, Fortum India.
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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.