SOftBank on solar energy project in India

Solar energy is going to be a billion dollar business in Indian which produces 4 gigawatts and Indian Prime minister Narender Modi has a vision of taking up the energy production through solar to 100 gigawatts. Yes this may be going to be true with Modi’s commitment towards solar energy as an alternate source of energy as the Japanese Telecommunication and internet giant SoftBank has announced their grand investment plan of 20 billion dollar to solar energy projects. SoftBank partners Bharti Enterprises as well as Taiwan are manufacturing gain Foxconn. SoftBank will have majority stake in the tie-up while both Bharti and Foxconn have minority stakes.

SoftBank has earlier announced a 10 Billon dollar project commitment towards telecom and Internet. SoftBank has exposure in Ola Cabs as well Sanpdeal. Masayoshi Son, CEO of SoftBank met modi on his solar project plan. As per him Indian has high potential for solar projects as the Sun in India shines two times brighter than Japan as well as the cost of setting up solar park is half of what it takes in Japan.

As per Indian Govt’s estimate Solar will become the 2nd biggest source of energy after coal by 2020.The govt Of India led by Narendra Modi Govt has envisioned a 1.2 lakh crore solar project plan to produce 20,000 mw solar power project which is a fifth of the total target by 2021-2022 and interestingly the project will engage qualified unemployed and under-employed youth. By 2022 there is a plan to produce 1, 00, 00 mw of solar power in the country. As per the project plan youth having MBA, B.Com and M.com degree and less than 35 year old are eligible to get into partnership to run such projects. They must hold more than 26% and less than 51% of stake in the projects allocated to them.



Respective state Governments willing to participate should identify how much capacity is left in the grid to handle solar power. Once the spare capacity is identified on sub-station level allocation of project to produce the spare capacity will be given to project planner, project developers with preference to the unemployed youth.

Written By Dipti Prasad padhi

 

By : | Category : Business and Economy| Sub Category : Indian Business News|Date : June 23,2015

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