Japanese SoftBank ventures into India with $20 billion

Japanese multi-national telecommunications and internet corporation SoftBank will join forces with Bharti Enterprises and Foxconn Technology Group to invest in Indian solar with a stellar $20 billion venture.

Share

"India has two times the sunshine of Japan. The cost of construction of the solar park is half of Japan. Twice the sunshine, half the cost, that means four times the efficiency," SoftBank’s chief executive Masayoshi Son summed up in a conference in New Delhi, India in June this year on this move.

According to Reuters, SoftBank will team up with Bharti Enterprises and Taiwan’s Foxconn to invest $20 billion in solar projects across India. SoftBank will have majority control in the newly formed company, SBG Cleantech, with Bharti and Foxconn as minority stakeholders. The companies have also made a minimum commitment to generate 20GW of solar energy. The companies are also looking to manufacture equipment in India. Rajasthan and Andhra Pradesh are the states in consideration.

Indian Prime Minister Narendra Modi’s goal is to achieve 100GW of solar capacity in India to prevent blackouts and pollution. The current status is 4.1GW. Son’s investment into Indian solar will account for a fifth of the necessary financial backing, namely $94 billion, needed for Modi’s dream.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Solarwatt presents new residential battery

22 November 2024 German manufacturer Solarwatt says its new battery can be flexibly configured as an AC or DC system. It also features an emergency power function and...

Share

pv magazine

The pv magazine editorial team includes specialists in equipment supply, manufacturing, policy, markets, balance of systems, and EPC.

More articles from pv magazine

Related content

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.