Fortum receives letter of intent for the 70 MW solar PV project in Rajasthan, India



Fortum has received a letter of intent from National Thermal Power Corporation Limited (NTPC), India's largest power utility, confirming that NTPC plans to purchase solar power for 25 years for the 70 MW solar PV plant Fortum will build at Bhadla solar park in Rajasthan, India. Fortum expects to sign the Power Purchase Agreement with NTPC by the end of March, after which it can finalize the plans for the solar park.


In January, Fortum won a reverse auction for the 70 MW project with a fixed tariff of 4.34 INR/kWh (about 60 EUR/MWh) for 25 years. The e-bidding was organized by NTPC under Phase II Batch II Tranche I of Jawaharlal Nehru National Solar Mission (JNNSM).
Fortum has currently 15 MW solar capacity in India, with solar PV plants in the states of Rajasthan and Madhya Pradhesh.
Fortum Corporation
Corporate Communications

Further information:
Sanjay Aggarwal, Managing Director, Fortum India
Deepkamal Kaur, Chief Communications Manager, Fortum India
tel + 124 4418800,
Fortum's vision is to be the forerunner in clean energy. We provide our customers with electricity, heat and cooling as well as other energy solutions that improve present and future life. Already 64% of our electricity generation is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, we employed some 8,000 energy sector professionals, and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki.