SoftBank’s arm SB Energy is close to signing a pact to invest in a 500 megawatt solar power plant being developed by the Essel Group in Rajasthan, according to sources directly involved with the deal.
Essel Group is in early stages of developing a solar power park in Rajasthan with a total capacity of 750 MW. “This investment will help SoftBank fast forward its plan as it will have all the necessary infrastructure. This will reduce the time to build a plant from 12-15 months to less than six months,” an executive involved with the deal said.
Essel Group’s spokesperson confirmed deal, but declined to give details, while a SoftBank spokesperson said, “We don’t comment on market speculations.” Read more
Latest posts by The Economic Times (see all)
- Oil posts a weekly loss amid dour economic outlook, supply rise - October 19, 2019
- Second nuclear plant at TN’s Kudankulam stops operation - October 19, 2019
- Gautam Thapar may not be able to regain CG Power control - October 19, 2019