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As part of its ambitious Indian solar investment roadmap, SoftBank Group has agreed to launch a $930 million Indian solar joint venture in partnership with GCL Integration Technology Co
.
Ltd.
of China.
SoftBank and GCL Integrate launch a US$930 million solar joint venture in India
The joint venture project will focus on photovoltaic technology
used in solar panels.
GCL said in a filing with the Shenzhen Stock Exchange that GCL will provide the technology and SoftBank will assist in obtaining land and regulatory approvals
.
In 2015, SoftBank said it would invest $20 billion in solar projects
in India with Foxconn Technology Co Ltd and Bharti Enterprises.
The goal is to achieve 100 GW of solar power by
2022.
The new joint venture will eventually have 4 GW of solar capacity and be implemented
in two phases of 2 GW.
SoftBank will own 60 percent, while GCL will own 40 percent
.
The project was funded by SoftBank's Vision Fund
.
The Vision Fund is backed
by sovereign wealth funds from Apple, Foxconn and Saudi Arabia.
As of last May, the Vision Fund had raised more than $93 billion, making it the world's largest private equity fund
.
The fund recently announced that it will invest in the construction of the world's largest solar power project
in Saudi Arabia.
The project is expected to cost up to $200 billion and reach 200 GW
of capacity by 2030.
，
As part of its ambitious Indian solar investment roadmap, SoftBank Group has agreed to launch a $930 million Indian solar joint venture in partnership with GCL Integration Technology Co
.
Ltd.
of China.
SoftBank and GCL Integrate launch a US$930 million solar joint venture in India
SoftBank and GCL Integrate launch a US$930 million solar joint venture in IndiaThe joint venture project will focus on photovoltaic technology
used in solar panels.
GCL said in a filing with the Shenzhen Stock Exchange that GCL will provide the technology and SoftBank will assist in obtaining land and regulatory approvals
.
In 2015, SoftBank said it would invest $20 billion in solar projects
in India with Foxconn Technology Co Ltd and Bharti Enterprises.
The goal is to achieve 100 GW of solar power by
2022.
The new joint venture will eventually have 4 GW of solar capacity and be implemented
in two phases of 2 GW.
SoftBank will own 60 percent, while GCL will own 40 percent
.
The project was funded by SoftBank's Vision Fund
.
The Vision Fund is backed
by sovereign wealth funds from Apple, Foxconn and Saudi Arabia.
As of last May, the Vision Fund had raised more than $93 billion, making it the world's largest private equity fund
.
The fund recently announced that it will invest in the construction of the world's largest solar power project
in Saudi Arabia.
The project is expected to cost up to $200 billion and reach 200 GW
of capacity by 2030.
，
