Fortum has opened an Indian office in New Delhi. Its main focus will be to assess investment opportunities in the area of combined heat and power (CHP) in order to provide power and steam for industrial clusters.
Fortum has also announced that it is exploring the 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, says Fortum's President and CEO Tapio Kuula.
— 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.
He said if Fortum could find the right opportunities, the company could initially be looking to invest about 200-250 million euros in industrial CHP in India.
Fortum says its CHP competence allows for very high primary fuel efficiency and also the use of a wide range of fuels.
The level of efficiency reached in a CHP plant can be close to 90 per cent while the efficiency with separate power and steam production is around 35 per cent and 70 per cent respectively.
Fortum has long experience in using multiple fuels in CHP production. The company's intention is to use local fuels, various types of biomass or waste, for instance, whenever possible.
In India this could mean for example coconut shell, cashew shell, rice or coffee husk. Using local fuels is one important way to bring benefits locally.