Finnish power generation company Fortum, known for its low emissions and energy efficient technology, launched its India operations on 18 September.
“Our aim in India is to look into investment opportunities contributing to the development of India’s energy infrastructure,” Tapio Kuula, president and chief executive officer, said while launching Fortum India.
According to Kuula, Fortum India will focus on both power and heat production.
“Combined heat and power production is our core competency,” he said.
“India is important for us as we believe that its energy market has good growth prospects,” he added.
Fortum India is planning to invest around €200-250 million.
The company is looking at both CHP and combined steam and power (CSP) production in India using biofuels and waste as the energy source.
“We are looking at industries that need steam and power,” Kuula said.
Matti Karnakari, who has been appointed Fortum India’s managing director, said the company is in talks with several states, including Karnataka and Madhya Pradesh.
Asked about the company’s hiring plans in India, he said: “We have got some experts from Sweden and Finland initially. We will soon hire local people at the higher levels so that they can become Fortum’s face in India.”
Fortum India has its headquarters in Gurgaon, Haryana.
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