Softbank eyeing 10GW of solar in India - report

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Japanese telecoms provider-turned-solar developer Softbank could be in line to develop as much as 10GW of solar in India, beginning with the state of Andhra Pradesh, according to reports.

News of Softbank’s possible interest emerged after the chief minister of Andhra Pradesh, N. Chandrababu Naidu, visited Japan last week. During the visit, Naidu signed a Memorandum of Understanding (MoU) for industrial cooperation with the recently appointed head of the Japanese Ministry for Economy, Trade and Industry (METI), Yoichi Miyazawa.

Japan will increase its direct investment in the state under the terms of the MoU, which was signed on Friday. The investment will be into areas including urban development, infrastructure, manufacturing and agriculture, according to METI’s website. METI also announced that Japanese industrial parks would be established in Andhra Pradesh, while the ministry also highlighted that both parties recognised “the need to promote mutual cooperation to expand bilateral collaborative relationship in the energy sector”.

Meanwhile, Indian press, including the Times of India, reported that following his visit, Naidu said Softbank chief executive officer Masayoshi Son had expressed an interest in helping the state install 2.5GW of planned solar projects over the next five years. Andhra Pradesh held an auction for 1GW of PV project tenders in October, at which US thin-film developer First Solar put in the lowest bid. The Times of India reported that Son was also keen to help bring down the cost of Indian solar from R14 (US$0.23) to R6 “per unit” through investment in research and manufacturing, and that Softbank was planning to invest US$10 billion across India. The newspaper reported that Son plans to visit India soon. Other news outlets reported that Softbank’s investment could equate to 10GW of solar development across India in total.

A Softbank spokesman said he was not able to confirm or deny the reports when contacted by PV Tech today.

In related news, Softbank’s power generation division SB Power said in a release at the beginning of this week that it would put into motion the group’s plan to begin retail sales of solar-generated electricity, which it had first announced in February. The company will offer ¥1 (US$0.008) per kilowatt hour over the amount currently offered by utilities, starting in the Kanto region, with plans to eventually roll out the scheme nationally. Reforms of Japan’s electricity retail market have been expected for some time, with major utilities currently also responsible for the country’s grid network as well as electricity sales, leading to criticisms that entrenched regional monopolies have formed. The “unbundling” process of electricity market reform is pencilled in for completion by during 2016.

18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.
20 October 2021
Utility-scale solar is evolving, shaped by higher power modules and demand for increasingly lower levelised cost of electricity (LCOE). Those trends are also changing project requirements elsewhere, with inverters capable of delivering high power density and power capacity in strong demand. In this webinar, FIMER will detail how its innovative high-power, multi-MPPT string inverter and modular conversion solution can both meet those demands and transform the utility-scale solar sector for the better.
20 October 2021
The race is on but we need to sprint… With global climate talks fast approaching and time running out to prevent the most disastrous impacts of climate change, now is the time to act. The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens and companies. Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.
10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!

Read Next

October 15, 2021
US residential solar financier GoodLeap has raised US$800 million to expand into the broader market for sustainable home improvement, other carbon-reducing products and later commercial offerings and electric vehicles (EVs).
October 15, 2021
Doral Renewables has broken ground on the 1.65GWdc Mammoth Solar project in Indiana, set to be the US’ largest solar farm once complete.
October 15, 2021
European renewables investment management firm Greencoat Capital has confirmed its entry to the US renewables market and is plotting to invest up to US$5 billion over the next five years.
October 15, 2021
The European Commission (EC) has urged member states to accelerate solar deployment in order to tackle Europe’s rising electricity prices and has released a ‘toolbox’ to address the short-term impact of prices and strengthen resilience against future shocks
October 14, 2021
Europe’s most competitive renewable power purchase agreement (PPA) offers rose 8% quarter-on-quarter as Europe’s worsening energy crisis bites, according to US firm LevelTen Energy’s Q3 2021 PPA Price Index report.
October 14, 2021
JinkoSolar has laid claim to a new n-type monocrystalline silicon solar cell conversion efficiency record, taking that efficiency rating to 25.4%.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 19, 2021
BRISTOL, UK
Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021