Web Exclusive | June 2013
Fortum acquires solar power plant in Rajasthan
With an objective to gain experiences in different solar technologies and operating in Indian power market, Finnish Energy company Fortum has acquired a solar power plant in Rajasthan. The Company said on June 11 that it has commenced solar power production in the solar power plant, the company said in a statement on June 11. The company's short term ambition is to build a small photo-voltaic (PV) solar portfolio in India.
Fortum India's Managing Director Matti Kaarnakari said that solar power fits well with Fortum's other carbon free production and the company believes it will play an important role in tomorrow's low carbon energy system. The power plant was constructed as part of the Jawaharlal Nehru National Solar Mission (JNNSM), government's initiative for 22,000 mw of installed solar power generation capacity by year 2022, and it has been fully operational for one year.
Fortum is looking to invest some tens of millions of euros, in the short term, including this acquisition - in developing its PV solar competence and operations in India, the statement added.