Softbank Likely To Invest In Essel Group’s 500 MW Solar Plant


Softbank Likely To Invest In Essel Group’s 500 MW Solar Plant

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

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