Japan’s SoftBank to invest $60-100 billion in India solar power generation

• 6 years ago (2018-06-15)
• David Flin

Asia 892 Solar 273

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Japan’s SoftBank Group Corporation has announced that it will invest between $60-100 billion in solar power generation in India. A formal announcement from SoftBank and the Indian Government is expected soon after the final arrangements have been made.

It has been reported that SoftBank is expected to make the investment through a fund backed by Saudi Arabia’s Government. Saudi Arabia is the largest investor in SoftBank’s Vision Fund, which raised over $93 billion last year. A spokesman for SoftBank declined to comment.

In 2015, SoftBank pledged to invest $20 billion in Indian solar projects with a goal of generating 20 GW as the majority partner in a joint venture with India’s Bharti Enterprises and Taiwan’s Foxconn.

India has set a target to achieve an operational solar capacity of 100 GW by 2022, five times current levels.