Fortum expects to sign the Power Purchase Agreement with NTPC by the end of March, after which it can finalise the plans for the solar park.
In January, Fortum won a reverse auction for the 70 MW project with a fixed tariff of 4.34 INR/kWh (about 60 EUR/MWh) for 25 years. The e-bidding was organised by NTPC under Phase II Batch II Tranche I of Jawaharlal Nehru National Solar Mission (JNNSM).
Fortum has currently 15 MW solar capacity in India, with solar PV plants in the states of Rajasthan and Madhya Pradhesh.
