Kari Kautinen said Fortum – which has pledged to invest €200m-€400m ($228m-$456m) in Indian solar projects – “did not go blind” into tenders that have so far seen it secure almost 200MW of capacity at three sites.
Those successes include 70MW of capacity in Rajasthan won with a bid of 4.34 rupees/kWh ($0.065/kWh) – one of the lowest prices yet seen in India, and part of a downward trend that has caused some analysts to fret about the viability of developments and their ability to raise finance.
Kautinen
