Japan’s SoftBank wins first solar project in India

1445104922-0432Marking its debut in the Indian solar sector after its investment announcement of $20 billion, Japan’s Soft Bank won its first solar power project in India. The Japanese firm won the 350 megawatt (Mw) project, under the Jawaharlal Nehru National Solar Mission (NSM), through its joint venture (JV) company SBG Cleantech.

SBG Cleantech bid the lowest tariff of Rs 4.63 per unit to win the entire tendered capacity of 350 Mw. This is the lowest bid this year for solar power. Last month, US firm SunEdison had won a 500-Mw solar power park in Andhra Pradesh at the same tariff.

Indiabulls’ Yarrow Infrastructure, Azure Power, Reliance CleanGen, Goldman Sachs-backed ReNew Power, US’ First Solar and China’s Trina Solar were also in the fray. Read More

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