Fortum has won the right from Gujarat Urja Vikas Nigam Limited (GUVNL) to build a solar project with a total capacity of 200 MW in Gujarat, India. Fortum participated in the solar auction conducted by GUVNL for the total tendered capacity of 500 MW. The solar project shall be entitled to a fixed tariff for 25 years under GUVNL PPA (power purchase agreement) of 2.29 INR/kWh. The project is expected to be commissioned by 2024.
For the development of solar-based power generation, Fortum utilises partnerships and other forms of co-operation to maintain an asset-light structure. The solar power project in Gujarat, India is planned to be developed together with a partner.
Fortum News Desk, newsdesk [at] fortum [dot] com, +358 40 198 2843