Fortum to invest Rs. 1,600 crore in green energy in India.

After acquiring a five megawatt solar plant in Bhilwara, Finnish government-owned Fortum is looking to expand its operations in India both through investing in greenfield projects and acquisitions of existing facilities.

The Nasdaq-listed company with a focus on clean energy, including solar, has earmarked Rs. 1,600 crore for investments in green power. 'We are committed to invest in new plants in the country, and if we come across good existing assets, Fortum India is open for acquisitions,' said Matti Kaarnakari, managing director, Fortum India.

Currently, the company is evaluating a few assets for acquisitions but Kaarnakari declined to give details. 'We have visited a lot of solar plants in India as we want to understand the market before committing investments. The acquisition of Bhilwara plant is a part of that thinking,' said Kaarnakari.