Fortum India is planning to set up 300 MW of solar power capacity in India every year for the next five years. This will take its total installed capacity to over 2,100 MW.
A unit of the €5-billion Finland-based Fortum Oyj, Fortum India will invest Rs 1,300 crore per year on these projects, totalling investments of Rs 6,500 crore in the next five years.
According to Sanjay Aggarwal, Managing Director, Fortum India Private Ltd, “We are planning to add 300 MW of solar capacity in India every year. India is the hub for Fortum’s solar expansion. We have an installed capacity of around 700 MW in solar.”
Fortum has received approval from its parent organisation for investments of up to €400 million in India.
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