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Fortum Financing Solar Spares India Banks Made Wary by SunEdison

By Tony Seruga

Finland’s richest company to invest as much as $455 million
Fortum quoted record low solar tariffs in India in January

Finnish utility Fortum OYJ is ready to self-finance Indian solar projects that promise to generate electricity at record-low prices, boosting Prime Minister Narendra Modi’s renewable energy ambitions and sidelining bankers spooked by SunEdison Inc.’s insolvency.

“We’ll take the construction risk ourselves,” Sanjay Aggarwal, managing director at Fortum, said in an interview in New Delhi. “We’re very clear — we would bring in our funds.”…

Fortum Financing Solar Spares India Banks Made Wary by SunEdison

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