Fortum India Plans to Set Up Solar Power Units worth 300 MW Each Year until 2025

Sanjay Aggarwal, MD, Fortum India Pvt. Ltd. believed, “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.”

September 26, 2019. By News Bureau

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Fortum India has announced that it plans to set up 300 MW of solar power capacity each year in India for the next five years, taking its total installed capacity to over 2,100 MW.

The investment will be around ₹1,300 crores per year, totaling investments of ₹6,500 crores in the next five years.

Sanjay Aggarwal, MD, Fortum India Pvt. Ltd. believed, “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.”

The company has secured its parent company’s consent for investments of up to €400 million in India.

India’s solar capacity had reached 30,000 MW by July 2019 and the government has a target to reach 1 lakh MW capacity of solar power by 2022 with potential investments of $100 billion.

When enquired if the target of 1 lakh MW by 2022 was attainable, Mr. Aggarwal said, “We have advanced from 400 MW of solar capacity in 2012-13 to over 30,000 MW now. Last year alone, we added over 8,000 MW. I think we can can do around 10,000 MW each year in the coming years.”

Fortum has arrived into a 50:50 joint venture with Numaligarh Refinery Limited to set up a bio-ethanol plant in north east with a project cost of ₹1,500 crores. The company will use bamboo as raw material for its bio-ethanol plant.

“The construction of the plant has started and the project is likely to be completed by 2021. We will be selling the ethanol to Numaligarh Refinery,” held Mr. Aggarwal.

Fortum is also planning to set up electric vehicle charging stations across India

“We have around 50 EV charging stations and by next 6 months we will have over 100 EV charging stations in Hyderabad, New Delhi, Bangalore and Mumbai,” Mr. Aggarwal believed.

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