Mumbai: Finnish energy company Fortum plans to sell its operational assets in India -185 MW of solar projects spread across Rajasthan, Karnataka and Madhya Pradesh. Kotak Mahindra Capital has been mandated to find buyers for the assets. Fortum is targeting an enterprise value of Rs 1,600 crore ($200 million) for the assets, said two people […]
Fortum Charge commissions 50-point public EV charging hub – EQ Mag Pro
Bengaluru: In line with its vision to make electric vehicle charging accessible to all users, Fortum Charge and Drive India has commissioned a public EV-charging hub with 50 charging points at Forum Neighbourhood Mall here. The charging hub will cater to all types of electric cars as well as compatible 3W and 2W. The facility […]
Fortum to record pre-tax impairments of approximately EUR 2.1 billion related to its Russian operations – EQ Mag Pro
Following Russia’s attack and the war in Ukraine and the consequential geopolitical tensions, uncertainties and risks, Fortum will record pre-tax impairments of approximately EUR 2.1 billion related to the company’s Russian operations in its first quarter 2022 results. The impairments include approximately EUR 0.3 billion related to fixed assets and goodwill for Fortum’s Russia segment […]
Fortum has won the right to build 200 MW solar capacity in India – EQ Mag Pro
Fortum has won the right from Gujarat Urja Vikas Nigam Limited (GUVNL) to build a solar project with a total capacity of 200 MW in Gujarat, India. Fortum participated in the solar auction conducted by GUVNL for the total tendered capacity of 500 MW. The solar project shall be entitled to a fixed tariff for […]
Fortum, BSES Yamuna Power launch EV chargers with load balancing – EQ Mag Pro
New Delhi : Fortum Charge & Drive India on Friday said it has partnered with BSES Yamuna Power Ltd to launch a first-of-its-kind pilot project on load balancing in India. The pilot project will focus on serving intelligent distribution of available load among chargers and Electric Vehicles (EVs), a statement said. “Fortum Charge & Drive […]
MG Motor and Fortum deploy the first 50 kW EV charging station at Surat – EQ Mag Pro
In line with its commitment to encourage EV adoption in India MG Motor India and Fortum Charge & Drive India (Fortum) have deployed a 50 kW Superfast public EV charging station in Surat, Gujarat. The inauguration ceremony was held at MG Dealership recently, in the presence of Shri KK Panchal (ARTO Surat) as the Chief […]
Fortum to Divest 500 MW of Solar Power Plants in India – Agreement With Actis For Solar Investments
Fortum has signed an agreement to divest the 250-MW Pavagada II and the 250-MW Rajasthan solar power plants in India to Actis, a global infrastructure investment firm. The total consideration from the divestment on a debt and cash-free basis, including the effect of deconsolidating of the net debt, is expected to be approximately EUR 280 […]
Carbon management company EKI Energy to raise ₹18 crore via IPO
Indore, Madhya Pradesh based carbon footprint management company EKI Energy Services intends to raise a little over ₹18 crore through its IPO, which opens on Wednesday. EKI Energy, which operates under the brand name ‘Enking International’, helps its clients achieve carbon footprint neutrality, cut down greenhouse gas emissions, trade in carbon offsets, conduct electrical safety […]
Green Energy Shift to Bring $120 Million a Year to Two Utilities
Fortum Oyj is looking to divest its consumer business and pushing into renewables and hydrogen as the Finnish utility aligns its strategy with its newly acquired German power company Uniper SE. The joint plan comes eight months after Fortum secured majority ownership of Uniper in a fractious takeover battle fiercely resisted by the German company’s […]
Finnfund to invest in Fortum Charge and Drive India
New Delhi: Finnish clean energy firm Fortum on Monday said development financier Finnfund will invest in Fortum Charge and Drive India. According to a company statement, Finnfund will invest in a minority share of Fortum’s public charging point operator (CPO), Fortum Charge and Drive India Private Ltd (FCDIPL). The FCDIPL is a fast-growing e-mobility infrastructure […]