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News Brief | October 2015

Adani in talks with Softbank, Foxconn on $3 billion solar plan

Billionaire founder of the Adani Group, Gautam Adani is in talks with JapanĀ“s Softbank Chairman Masayoshi Son and Foxconn head Terry Gou, to secure investment for a $3 billion project to produce 3 GW of solar cells and panels in the country, sources said.

The new deal will boost manufacturing and create sorely needed jobs. The deal is yet to be finalised, but will likely be greenlit in the coming few months. The first phase of 1 GW will be completed by 2018 and the company has already started buying equipment for it.

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