Fortum looking for growth in India

Finland’s Fortum Corporation recently opened its Indian office in New Delhi. The company is involved in the generation, distribution and sales of electricity and heat, as well as other related expert services.
Fortum revealed that its main focus in India at this time will be to assess investment opportunities in the area of combined heat and power (CHP) which it can market to industrial clusters. Fortum also announced that it is exploring possibilities in the field of solar power production in India.
“Our aim is to look into investment opportunities contributing to the development of India’s energy infrastructure. Considering our long track record in sustainable power and heat production and our energy market competence, I believe that Fortum has a lot to offer to the rapidly developing Indian energy market”, said Fortum President and CEO Tapio Kuula. “Along with population growth, the rising standard of living is increasing consumption and energy needs. At the same time, it is important to make the best use of natural resources and find ways to mitigate the increasing emissions from power generation. This means that energy has to be produced and used more efficiently and in a smarter way in the future. If and when we find opportunities that are in line with our financial and other targets, Fortum could initially be looking to invest up to €200-250 million (US$261-326.6 million) in industrial CHP in India,” Kuula explained. (September 22, 2012)