Finnish power utility Fortum has announced plans to boost its renewable capacity, and a target to reach 1 GW of wind and solar capacity.
Fortum currently has 15 MW of solar capacity in India. In January 2016, the group won a reverse auction for a 70 MW project with a fixed tariff for
25 years. In addition, in April 2016, Fortum decided to bid for an additional 100 MW in India, with a fixed tariff for 25 years. The group plans to allocate €200m to €400m to planned growth capital in solar projects in India and will consider seeking possible partnerships or other forms of cooperation to develop large-scale greenfield developments.
Where wind power is concerned, Fortum is minority owner of BlaikenVind in Sweden, with Fortum controlling 15 of 99 wind turbines with a capacity of 37.5 MW (expected in 2016). In addition, Fortum is starting a wind farm project in Ulyanovsk, Russia with a total capacity of 35 MW (expected in 217).
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