Japan's SoftBank Wins its First Solar Project in India
Marking its debut in the Indian solar industry post its investment announcement of $20 billion, Japan’s SoftBankwon its first 350 Mw solar power project in Andhra Pradesh through its joint venture company - SBG Cleantech. SBG Cleantech bid the lowest tariff of Rs 4.63 per unit to win the entire tendered capacity of 350 Mw. This is the lowest bid in this year for solar power. Last month, US SunEdison won 500 Mw solar power park in Andhra Pradesh at the same tariff rate. Solar Project Japan -Among the others who were in fray were Indiabulls’ Yarrow Infrastructure, Azure Power India, Reliance CleanGen, Goldman Sachs backed ReNew Power and two others. SoftBank tied up with Foxconn and Bharti Enterprises in June this year to invest in the Indian solar energy sector committing a whooping $20 billion. This is its second bid participation after AP solar park and the first win for any power project through its joint venture SBG Cleantech. “SoftBank is surely establishing itself as a ...