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Japan's SoftBank wants to spend $1 trillion in solar projects
in India by 2030.
In return, Japan's SoftBank demanded that electricity prices be set in dollars and wanted the government to ensure that electricity produced by its factories would be bought
.
However, SoftBank may not be able to obtain any guarantees from India, which still remembers the bitterness of the Enron-Dabhol case
.
The central government may not want to expose state-owned utilities to foreign exchange risk
.
According to the Economic Times, New Delhi prefers sellers to negotiate power purchase agreements (PPAs) with buyers
, as is industry practice, according to the Economic Times.
As part of India's solar investment roadmap, SoftBank Group has agreed to launch a $930 million joint solar project
in India with Chinese company GCL System Integration Technologies.
According to GCL's filing with the Shenzhen Stock Exchange in early April, GCL will provide the technology and SoftBank will assist in obtaining land and regulatory approvals
.
Indian Prime Minister Narendra Modi's renewable energy strategy, India has set a target to achieve 100GW of solar power capacity by 2022, five times
the current one.
India plans to reach a total renewable energy capacity of 175GW
by 2022 through multiple energy sources such as solar, wind, biomass and small hydropower.
But challenges remain
.
A recent study revealed that India will need at least $125 billion to fund its plans to increase renewable energy supply by 2022, which may be difficult to achieve due to
tariff reductions.
The newly formed companies of SoftBank and GCL will eventually have 4GW of capacity and will be implemented
in two 2GW phases.
Japan's SoftBank will hold a 60 percent stake in the joint venture, and GCL will own the remainder
.
Japan's SoftBank wants to spend $1 trillion in solar projects
in India by 2030.
In return, Japan's SoftBank demanded that electricity prices be set in dollars and wanted the government to ensure that electricity produced by its factories would be bought
.
However, SoftBank may not be able to obtain any guarantees from India, which still remembers the bitterness of the Enron-Dabhol case
.
The central government may not want to expose state-owned utilities to foreign exchange risk
.
According to the Economic Times, New Delhi prefers sellers to negotiate power purchase agreements (PPAs) with buyers
, as is industry practice, according to the Economic Times.
As part of India's solar investment roadmap, SoftBank Group has agreed to launch a $930 million joint solar project
in India with Chinese company GCL System Integration Technologies.
According to GCL's filing with the Shenzhen Stock Exchange in early April, GCL will provide the technology and SoftBank will assist in obtaining land and regulatory approvals
.
Indian Prime Minister Narendra Modi's renewable energy strategy, India has set a target to achieve 100GW of solar power capacity by 2022, five times
the current one.
India plans to reach a total renewable energy capacity of 175GW
by 2022 through multiple energy sources such as solar, wind, biomass and small hydropower.
But challenges remain
.
A recent study revealed that India will need at least $125 billion to fund its plans to increase renewable energy supply by 2022, which may be difficult to achieve due to
tariff reductions.
The newly formed companies of SoftBank and GCL will eventually have 4GW of capacity and will be implemented
in two 2GW phases.
Japan's SoftBank will hold a 60 percent stake in the joint venture, and GCL will own the remainder
.
