Nikesh Arora, president and COO of SoftBank, has started the company’s solar journey in India by bagging a 350MW deal.
SB Energy, a three way joint venture between SoftBank, Bharti Enterprises and Foxconn Technology, has bagged the NTPC bid to develop a 350MW solar plant.
The project under the Phase-II, Batch-II, Tranche-I of Jawaharlal Nehru National Solar Mission at a 25-year tariff of Rs. 4.63/ kWh will be developed in the Ghani Sakunala Solar Park, Kurnool District in the state of Andhra Pradesh.
SB Energy aims to commission 20GW in India.
“Our goal is to create a market-leading renewable energy company, to fuel India’s growth with clean, reliable and affordable sources of energy,” said Nikesh Arora, president and COO of SoftBank.
Manoj Kohli is the executive chairman and Raman Nanda is the CEO of the New Delhi-headquartered SB Energy.
Solar in India is likely to grow by 250 percent in 2015. 107 GW of renewable energy was added through wind, solar, geothermal and other natural sources.