Japan's SoftBank in $20b solar power venture in India

AFP, NEW DELHI: Japan's SoftBank will team up with Taiwan's Foxconn and Bharti Enterprises to invest $20 billion in solar power projects in India, as the country ramps up its clean energy sector, the companies announced yesterday.
Mobile phone operator SoftBank said the venture aimed to generate 20 gigawatts of energy through solar and wind power plants across coal-reliant India, up from the country's 4.1 gigawatts of current capacity.
Prime Minister Narendra Modi aims to expand clean energy to 100 gigawatts by 2022 to slash India's crippling power blackouts as well as bring electricity to the 300 million people currently without power.
India relies heavily on polluting coal power plants for about 60 percent of its electricity.
"With this partnership, our goal is to create a market-leading clean energy company, to fuel India's growth with clean and renewable sources of energy," SoftBank's billionaire founder Masayoshi Son said in a press release. Son said his company would help manufacture solar equipment in India for the project, adding that SoftBank has invested $1 billion in the country in the last nine months.

Japans SoftBank in $20b solar power venture in India

AFP, NEW DELHI: Japans SoftBank will team up with Taiwans Foxconn and Bharti Enterprises to invest $20 billion in solar power projects in India, as the country ramps up its clean energy sector, the companies announced yesterday. Mobile phone operator SoftBank said the venture aimed to generate 20 gigawatts of energy through solar and wind power plants across coal-reliant India, up from the countrys 4.1 gigawatts of current capacity. Prime Minister Narendra Modi aims to expand clean energy to 100 gigawatts by 2022 to slash Indias crippling power blackouts as well as bring electricity to the 300 million people currently without power. India relies heavily on polluting coal power plants for about 60 percent of its electricity. With this partnership, our goal is to create a market-leading clean energy company, to fuel Indias growth with clean and renewable sources of energy, SoftBanks billionaire founder Masayoshi Son said in a press release. Son said his company would help manufacture solar equipment in India for the project, adding that SoftBank has invested $1 billion in the country in the last nine months.