SB Energy, the joint venture firm of SoftBank, Bharti Enterprises and Foxconn, has won its first solar project in India at a tariff of Rs 4.63/kWh.
It won the NTPC bid to develop a 350 mw solar power project in Andhra Pradesh, under the Jawaharlal Nehru National Solar Mission at a 25-year tariff of Rs 4.63 per kilowatt-hour (kWh), SoftBank said in a statement.
"SB Energy, (formerly known as SBG Cleantech), a three way joint venture between Japan headquartered telecom and Internet major SoftBank Group Corp (SoftBank), leading Indian business conglomerate Bharti Enterprises Ltd (Bharti) and Taiwan-based top design and manufacturing services provider Foxconn Technology Group ('Foxconn'), won the NTPC bid to develop a 350 MW solar plant," it said.
The project is to be developed in the Ghani Sakunala Solar Park, Kurnool district, the statement said, adding that this is SoftBank's first step towards realising its USD 20 billion commitment to promote clean and safe energy in India.
The state-owned solar park "provides land and facilities such as roads, drainage and evacuation to developers", the statement said.
Winning the bid reaffirms the commitment made by SB Energy to commission 20 GW in India, it added.
"This project will immensely contribute to...meeting the country s energy demands through clean sources and India's commitment to providing a safe environment, following the recent Paris convention," SoftBank President and COO Nikesh Arora said in the statement.