Fortum Corporation, A finland’s company won solar power project of 100 MW in Karnataka.
Fortum Corporation had won the project in reverse e-auction conducted by by state-run generator NTPC for 500 MW capacity at Pavagada Solar Park in Karnataka with a fix tariff of Rs 4.79 per Kwh for 25 years.
“Fortum has won a bid in the reverse auction process conducted by NTPC on 12th April 2016 for the selection of 500 megawatt (MW) grid connected solar PV projects. Fortum secured 100 MW in this bid,” said the state-run Finnish energy major.
“We are excited to become a successful bidder in the reverse auction process. Solar has always been a focus area for Fortum in India. The country provides a good platform for Fortum to further develop its business in solar also elsewhere. Fortum seeks to allocate of its planned growth capital in the range of EUR 200 – 400 million in solar projects in India”, Sanjay Aggarwal, Managing Director, Fortum India said.