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Fortum wins 200MW solar project in India

From pv magazine India

Finland’s Fortum has won the rights to build a 200MW solar project in the Indian state of Gujarat. It won the project from Gujarat Urja Vikas Nigam Ltd. (GUVNL) through competitive tariff-based bidding, for a total tendered capacity of 500MW. 

The solar project will benefit from a 25-year power purchase agreement (PPA) with GUVNL at a fixed tariff of INR 2.29 ($0.030)/kWh. The project will be commissioned by 2024.

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“For the development of solar-based power generation, Fortum utilizes partnerships and other forms of co-operation to maintain an asset-light structure,” said the company. “The solar power project in Gujarat, India, is planned to be developed together with a partner.”

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Source: pv magazine