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)
- Reliance to invest Rs 3 lakh cr in Gujarat in next 10 years: Mukesh Ambani - January 18, 2019
- France pushes economic agenda in India - January 18, 2019
- Gujarat government suggests wind park to accommodate central developers - January 18, 2019