Going by the earlier plans, Japanese telecommunications and internet giant SoftBank has made its first bid for a 500MW solar park project in Andhra Pradesh. The global player had previously tied up with Foxconn and Bharti Enterprises during this year in June with a plan to invest in the Indian solar energy sector.
This will be SoftBank’s first ever bid for any power project through its joint venture, SBG Cleantech in India. The bids were called under the flagship Jawaharlal Nehru National Solar Mission (JNNSM) for a solar power project in Andhra Pradesh. The estimated tariff is between Rs 5.6-5.75 per MW.
Thirty bidders have participated and SBG Cleantech was one of the companies qualified to submit its final bid on Tuesday. The Government of Andhra Pradesh received bids that totaled around 5,500 MW, more than 10 times the unit called for in the tender.
A giant Japanese multi national telecommunications and internet corporation, SoftBank operates into fixed line telecommunications, e- commerce, internet technology services, finance, media and marketing. Established in 1981, SoftBank is headquartered at Tokyo and has been recognized as 62nd largest company in the world as on 2015. Masayoshi Son currently serves as the Chairman and CEO of the enterprise while Nikesh Arora of the Indian origin is the President and the COO.