Energy firm Fortum plans to invest up to Rs 1760 crore in Indian power market

NEW DELHI: Finland based energy company Fortum is looking to invest up to 250 million euros (about Rs 1760 crore) in India's power market.

"In the near future, the main focus for Fortum will be to assess opportunities to invest in CHP (combined heat and power) plants, we could initially be looking to invest up to 200-250 million euros in industrial CHP in India," Tapio Kuula, President and CEO, Fortum told reporters here today.

"Based on our long track record in sustainable power and heat production and our energy market competence, Fortum has a lot to offer to the Indian energy market," Kuula said.

"We are currently assessing generally our future role in solar power production. India is one of the globally most interesting countries in solar power generation, it is quite natural for us to explore possible growth in solar as well," he added.

Fortum's operations focus on countries including Russia and, Poland. It employs approximately 10,800 people.

"We believe that our experience in resource efficiency and sustainable power generation will be appreciated," Matti Kaarnakari, Managing Director, Fortum India said.