Finland-based Fortum on Tuesday said it would invest up to €250 million in India. The Finnish company has announced the opening of its first office in India. “Fortum is looking to possibly make investments in the combined heat and power domain in India and is in talks with stakeholders in several States. It is exploring a possible future role in solar power production in India,” company said. It has appointed Matti Kaarnakari as Managing Director of Fortum India Pvt Ltd and opened its office in Delhi. In 2011, Fortum reported sales revenue of € 6.2 billion and comparable operating profit of €1.8 billion.
Tapio Kuula, President and CEO of Fortum, told newspersons here on Tuesday that the firm would initially look to invest up to €200-250 million in industrial combined heat and power plants. “We are assessing generally our future role in solar power production. India is one of the globally most interesting countries in solar power generation, both with regards to its natural location but also due to its ambitious plans for solar power,” Kuula said.