Home ECONOMY Japan’s Softbank, Bharti JV for $20bn Indian solar project

Japan’s Softbank, Bharti JV for $20bn Indian solar project

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New Delhi, June 22:

Japan’s SoftBank Corp on Monday announced a joint venture with Bharti Enterprises and Foxconn Technology Group to set up a $20 billion solar power project in India designed to add 20 gigawatts of generation capacity.

Photo Courtesy: thehindu.com
Photo Courtesy: thehindu.com

“The total project cost is $20 billion and designed to further Prime Minister Narendra Modi’s vision of achieving 100 GW solar power, which he told me about in Tokyo,” SoftBank chairman Masayoshi Son told reporters here.

“Softbank will be the project leader with majority stake, while Bharti will be a strategic minority shareholder. Foxconn Technology will have a smaller minority stake,” said Bharti Enterprises chairman Sunil Bharti Mittal. (IANS)