Fortum has commissioned a 70MW solar plant at Bhadla solar park in Rajasthan, India. The solar plant is Fortum's third and so far biggest commissioned solar energy project.
Fortum won a reverse auction for the project in January 2016 and the building of the solar plant was conducted on schedule. The power plant 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 the states of 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 EUR 200–400 million in solar projects in India.