Fortum divests remaining stake in Indian solar assets

It sold its remaining 43.75% share in 185 MW solar plants to Gentari Renewables India.

Nordic energy firm Fortum has signed an agreement with Gentari Renewables India to sell its remaining 43.75% share in its Indian solar power assets.

In a statement, Fortum said the portfolio sol included the five-megawatt (MW) Amrit plant, 10 MW Kaperli plant, 70 MW Bhadla plant, and the 100 MW plant.

The other owners which include the UK Climate Investments Lakeside Limited, and a fund managed by Evli Fund Management, also sold their stakes.

ALSO READ: India's hydropower capacity to soar to 67 GW by 2032

“In line with its Nordic strategy, Fortum is limiting its exposure in India and evaluating alternatives for these remaining operations and will not make any further commitments in India,” Fortum said.

The company entered the Indian market in 2012 and sold 56.25% of its solar portfolio from 2018 to 2019.

Fortum still has its electric vehicle charging services and renewables development portfolio.

Its remaining net assets and guarantees are worth around $32.2m (EUR30m).

$1 = EUR0.93

Follow the link for more news on

India renewables capacity

Also Read

J&V Energy acquires stake in 180-MW solar project in PH

JERA sells stake in Thai solar project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit