As Fortum has communicated in its stock exchange release on 12 April 2016, the company seeks to allocate of its planned growth capital in the range of EUR 200–400 million in solar projects in India. In addition, Fortum will consider seeking possible partnerships or other forms of cooperation, which would on long-term create a more asset-light structure.
The media has recently speculated whether Fortum is planning to withdraw from solar power in India. "We remain committed to develop solar power and explore new opportunities and this has not changed,” says Sanjay Aggarwal, Managing Director, Fortum India Pvt. Ltd. “We can consider to take financial investors alongside us to our operating renewables assets.”
Fortum has currently an 85-MW solar capacity in India, with three solar power plants in the states of Rajasthan and Madhya Pradhesh. The 100-MW solar power plant in Karnataka, India will be commissioned in the near future.
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