Finnish utility firm Fortum today said it will invest 200-400 million euros (around Rs 1,500- 3,000 crore) in solar power projects India. India offers “one of the best solar resources and a sound government support for the development of solar sector. The country provides a good platform for Fortum to further develop its business in solar also elsewhere,” the company said in a statement.
The government plans to jack up solar power generation capacity to 100 gigawatts by 2022, up from 5.25 gigawatts currently. India gets more than 300 days of sunshine a year across the seventh-largest land area in the world. Fortum has 15 megawatts (MW) of solar capacity in India. In January this year, it won a reverse auction for a 70 MW project with a fixed tariff for 25 years.