Japan’s telecommunications and Internet major SoftBank Corp, one of India’s leading business conglomerate Bharti Enterprises Limited and Taiwan-based manufacturing services provider Foxconn Technology Group will form a joint venture, SBG Cleantech Limited to promote clean and safe energy in India.
SBG Cleantech will focus mainly on solar and wind energy. Adhering to the Indian Prime Minister’s 100GW solar and 60GW wind target by 2022, the venture will plan and promote renewable energy plants across India to attain the renewable energy target by 2022.
Large population, and ever increasing energy demand and power deficit has made India a potential solar market. “For a country of India’s size and promise, this can only be a first step” said Masayoshi Son, Chairman & CEO of SoftBank.
SBG Cleantech will be headquartered in Delhi. At a time when solar energy need in India is likely to grow by 250% in 2015 (as per reports), this JV is indeed heartening to hear for all Indians.
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