Finland-based Fotum 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 solarpower 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.
By Baishakhi Dutta
