SBG Cleantech, a joint venture of the Japanese SoftBank Corp, Foxconn and Bharti Enterprises, has won an NTPC bid to put up 350 MW of solar projects in Andhra Pradesh and sell the electricity to NTPC at a tariff of Rs 4.63 a kWhr.
Incidentally, the same tariff was quoted last month in another NTPC tender by SunEdison. The American company won 500 MW.
SBG Cleantech beat the nearest bidder Yarrow Infrastructure Ltd (of IndiaBulls) by one paise. American company Azure Power India (Rs 4.76), Reliance CleanGen Ltd (Rs 4.88), ReNew Solar Power (Rs 5.17) and Mira Zavas (Rs 5.18) were other bidders. Mirz Zavas is of the Chinese solar major, Trina.
SBG Cleantech also participated in last month’s bid, but had lost. SoftBank Corp, a Japanese telecommunications and internet major, made news in July when it said it would partner with Bharti and Foxconn to form a joint venture that would invest $20 billion in the Indian solar sector. SoftBank said it would bring $10 billion to the table from its kitty.
With this win, SoftBank has stepped into the Indian solar sector.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.