$20 billion in solar projects in India
- Date : 07/03/2015 05:28 pm
- @Author :Admin RE-PORT
Japan's Softbank Corp together with Bharti Enterprises and Taiwan's Foxconn will invest about $20 billion in solar projects in India, in one of the biggest investment pledges to date in the country's renewable energy sector.
SoftBank will have majority control in the newly formed company, SBG Cleantech, with Bharti and Foxconn as minority stakeholders.
"India has two times the sunshine (of) Japan," Softbank Chief Executive Masayoshi Son told reporters in a conference.
"The cost of construction of the solar park is half of Japan. Twice the sunshine, half the cost, that means four times the efficiency."
Masayoshi Son said the timeline for investments would depend on state and central governments and on acquiring land needed for the plants.