Masayoshi Son, the Chief Executive Officer of SoftBank, has offered free power to India and other member countries of the International Solar Alliance once solar power projects complete 25 years.
Speaking at the second Re-Invest conference, Son said, “As long as you have the land and sunshine, as long as you have the eyes and ears listening to me, I will give you free power.”
Son said the focus of project developers and policy makers till now has been limited to the 25-year power purchase agreement period.
As a ‘special offer’ for International Solar Alliance member countries, Son said, “SoftBank now offers free power from solar power projects after a Power Purchase Agreement of 25 years.”
Son said the life of a solar power project can extend to 80-100 years. “The capacity of the project lowers by 15 per cent in the first five years. But after that, the generation is maintained at 85 per cent of the project capacity for its lifetime,” he added.
Son said the solar panels used in projects will not degrade and stop producing power. He said, “The solar panel is made up of crystals. And this crystal is the final form of the material. It is not going to change into anything else. So as long as it is cleaned of dust, and as long as there is the sun, it will keep generating power.”
In his presentation, Son also pointed out that less than 1 per cent of India’s land mass will be sufficient for 1000 GW of solar power generation capacity. He said, “There is sufficient waste land in the country for the same.”