Companies

Softbank set to sign deal with Essel for developing 500mw solar park

Our Bureau Mumbai | Updated on October 31, 2018 Published on October 31, 2018

SB Energy, a renewable energy arm of Softbank in India, is set to sign a deal with Essel Infra projects Ltd, a part of Subhash Chandra-led Essel group to develop 500 MW solar park for SB Energy, according to sources close to the development.

The 500MW project developed by Essel Infraprojects will be a part of larger solar plant developed by SB Energy, they added.

Essel Infra project has been developing large infrastructure projects across multiple sectors, including renewables. Its own solar capacity is around 680 MW, of which around 160 MW is operational.

When contacted, the spokesperson of Softbank said the company does not comment on speculations. Representative of Essel Infra confirmed the development without providing further details

Earlier this month, Masayoshi Son, the Chief Executive Officer of SoftBank, has offered free power to India and other member countries of the International Solar Alliance once solar power projects complete 25 years.

Published on October 31, 2018
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