Fortum connects 100MW solar project at Pavagada, Karnataka

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Fortum’s solar production capacity in India now stands at 185MW made up of four projects. Credit: Fortum

Finnish firm Fortum has connected a 100MW solar plant to the grid at the Pavagada solar park in the Tumkur District of Karnataka, India.

Fortum’s solar production capacity in India now stands at 185MW made up of four projects.

In April 2016, Fortum won a bid in a reverse auction for 100MW out of the total of 500MW capacity auctioned. This included a fixed tariff of INR4.79/kWh for
25 years. This project the first part of the 2GW Pavagada solar park that has reached its full capacity and is connected to the grid.

“We are excited to be able to connect our fourth solar plant to grid. We look forward to continue to develop our business and look opportunities to leverage
our knowledge and experience obtained in our projects,” said Kari Kautinen, SVP M&A and Solar and Wind development.

Fortum is targeting a gigawatt-scale solar and wind portfolio as part of securing its longer-term competitiveness. Based on its strategy, Fortum seeks
to allocate its planned growth capital in the range of EUR200–400 million in solar projects in India.

In November, Fortum signed an agreement to acquire 35MW of solar production in Russia from Hevel Group.

Back in April this year, Fortum also commissioned a 70MW solar PV plant in the Indian state of Rajasthan, which it won last year at what was then a record low tariff of INR4.34/kWh (US$0.067).

Read Next

June 27, 2022
Tata Power Solar Systems said it has commissioned India’s largest floating PV plant, a 101.6MWp project in the southern state of Kerala.
June 23, 2022
The world’s total solar capacity will reach 2,044GW by 2031, with China continuing to lead the way in deployment, making up nearly half (47%) of the world's 1,190GW net solar capacity additions through to 2031, according to research firm Fitch Solutions.
June 22, 2022
Large developers of hybrid projects in India could see a 17% equity IRR by implementing five measures, according to a report by the IEEFA.
June 21, 2022
State-owned utility GUVNL has opened a tender for renewables paired with energy storage to bring off-grid electricity in Gujarat, India.
June 16, 2022
India and Germany’s solar sectors are set to outperform in the coming years, but both markets will fall short of government PV deployment targets, according to Fitch Solutions.
June 15, 2022
ReNew Energy Global witnessed a 27% jump in revenue in its last financial year but saw its net loss almost double on the back of costs associated with its NASDAQ listing.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event