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Finnish utility Fortum Oyj is planning to build a 200 MW solar photovoltaic project after it has been awarded in a 500 MW solar auction by Gujarat Urja Vikas Nigam Limited (GUVNL).
Fortum will enter into a 25-year power purchase agreement (PPA) with GUVNL under a fixed tariff of INR2.29 (US$0.038) per kWh. The project is expected to be operational by 2024.
