Finnish power firm opens shop in India

September 18th, 2012 - 9:25 pm ICT by IANS  

New Delhi, Sep 18 (IANS) Finish power generation company Fortum, known for its low emissions and energy efficient technology, launched its India operations Tuesday.

“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 Pvt Ltd here this evening.

According to Kuula, Foortum India will focus on both power and heat production.

“Combined heat and power (CHP) 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 euros.

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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