Fortum’s Solar Saga: The Next Chapter in India’s Clean Energy Journey
Fortum, a pioneer in renewable energy, is making waves in the Indian solar power scene with its latest agreement. The company is set to sell its remaining stake in its Indian solar power portfolio to Gentari Renewables India, a dynamic player in clean energy solutions.
This strategic move involves a 43.75% share in a portfolio that boasts four solar power plants across India, collectively generating 185MW of clean energy. From Amrit to Pavagada, these plants represent Fortum’s commitment to sustainable development in the region.
Joining forces with Gentari Renewables India, Fortum is unlocking new possibilities in the renewable energy sector. This transaction also includes the sale of shares by other owners, marking a significant shift in the solar power landscape.
As Fortum charts this new course, it anticipates recording profits from the divestment, signaling a fruitful venture for all stakeholders involved. The closing of this transformative deal is expected in the second quarter of 2024, heralding a new era in India’s renewable energy journey.
Since entering the Indian market in 2012, Fortum has been at the forefront of renewable energy development. With a focus on its Nordic strategy, Fortum is strategically navigating its operations in India, evaluating opportunities while ensuring a responsible transition.
Stay tuned as Fortum continues to shape the future of clean energy in India and beyond, leaving a lasting impact on sustainability and innovation. 🌞 #SolarPowerRevolution #RenewableEnergyLeaders #SustainableFuture
Credit: [Image: Fortum]