SoftBank signs $930 mn deal to set up solar venture

by Business | 03-04-2018 | 294 views

A Chinese energy conglomerate and SoftBank Group Corp, signed a $930 million agreement to produce and sell solar equipment in India, a country that is trying to bolster local manufacturing and curb reliance on clean energy imports. Golden Concord Group Ltd will invest in a 40 percent stake in the joint venture, with Japan’s SoftBank taking the rest, according to a March 31 statement from a unit of the Chinese company to the Shenzhen Stock Exchange. The project will have a capacity of 4 gigawatts and be involved in producing and selling solar ingots, silicon wafers, batteries and components, according to the statement.

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