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Finnish firm Fortum acquires solar power plant in Rajasthan

NEW DELHI: Finnish Energy companyFortum today said it has acquired a solar power plant in Rajasthan but did not provide financial details of the deal. 

"Fortum has acquired a solar power plant in Rajasthan and has commenced solar power production," the company said in a statement. However, it did not provide any financial details of the acquisition. 

The company's short term ambition is to build a small photo-voltaic (PV) solar portfolio in order to gain experiences in different solar technologies and operating in the Indian power market, the statement said. 

"Solar power fits well with Fortum's other carbon free production and we believe it will play an important role in tomorrow's low carbon energy system," said 
Matti Kaarnakari, Managing Director, Fortum India Pvt Ltd. 

The power plant was constructed as part of the 
Jawaharlal Nehru National Solar Mission (JNNSM), government's initiative for 22,000 MW of installed solar power generation capacity by year 2022, and it has been fully operational for one year. 

In the short term, Fortum is looking to invest some tens of millions of euros - including this acquisition - in developing its PV solar competence and operations in India, the statement added.