News Brief | January 2016
SB Energy wins bid for 350-MW solar project in AP
SB Energy, (formerly SBG Cleantech), a three-way joint venture between Japan headquartered telecommunications and internet major SoftBank Group Corp. (SoftBank), leading Indian business conglomerate Bharti Enterprises Limited (Bharti) and Taiwan-based top design and manufacturing services provider Foxconn Technology Group (Foxconn), won the NTPC bid to develop a 350 MW solar plant under the Phase-II, Batch-II, Tranche-I of National Solar Mission at a 25-year tariff of Rs.4.63/ kWh.
The project is to be developed in the Ghani Sakunala Solar Park, Kurnool District in the state of Andhra Pradesh. This is SoftBank's first step towards realising its $20 billion commitment to promote clean and safe energy in India.
This solar project, under the flagship Jawaharlal Nehru National Solar Mission (JNNSM), is located in Andhra Pradesh in the state-owned solar park, which provides land and facilities such as roads, drainage and evacuation to developers. Winning the bid reaffirms the commitment made by SB Energy to commission 20 GW in India.
Said Nikesh Arora, President COO, SoftBank, "Our goal is to create a market-leading renewable energy company, to fuel India's growth with clean, reliable and affordable sources of energy. I am glad that we could open our account today with this win.