According to reports, Solar power company Fortum has commissioned a 70 Megawatt solar power plant at Bhadla solar park in Rajasthan, the company’s third and so far biggest commissioned solar 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 NTPC Limited, 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.
At present, the company is 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.