Softbank plans to install 10GW solar power project in India: Sources

Softbank has been taking great interest in India, with fundings in e-commerce majors like Snapdeal and Ola Cabs.

Dec 04, 2014 11:12 IST India Infoline News Service

As per media reports, Softbank is willing to fund 10,000 MW of solar power project in India. In a recent interaction with the CM of Andhra Pradesh, Softbank expressed its intentions for the funding of the solar projects, the report added.

In a recent visit to Japan, CM Naidu signed a Memorandum of Understanding (MoU) for industrial cooperation with the recently appointed head of the Japanese Ministry for Economy, Trade and Industry (METI), Yoichi Miyazawa. Under this, Japan will increase FDI in India in sectors like urban development, infrastructure, manufacturing and agriculture. He also reportedly met Softbank's CEO and expressed his desire to install 2.5GW of planned solar projects over the next five years in the state, with the help from the telecom major.

Softbank has been taking great interest in India, with fundings in e-commerce majors like Snapdeal and Ola Cabs.

Currently, the cost of generating power from solar energy is about Rs. 6-6.5, which has reduced phenomenally from Rs. 15-15. Softbank is also enthusiastic to set up R&D centers in India, to further bring down the cost of electricity to Rs. 4-4.5, which would be at par with the coal-generated power. 

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