SoftBank Chief Promises for Free Solar Power to India

- Advertisement -

Once the 25-year agreement of SoftBank Energy comes to an end, the Japanese conglomerate plans to invest for free electricity for all

Masayoshi Son, SoftBank chief executive, has announced to provide free electricity to India as part of its promise for free supply to the International Solar Alliance (ISA) member countries. While addressing the second global RE-Invest conference in Greater Noida, recently, the chief said that the company would act on the promise once its power purchase agreement of 25 years with SoftBank Energy, the joint venture of the Japanese conglomerate and Bharti Group, ended.

- Advertisement -

Citing ‘electricity for all’ vision, which was also the vision of the Indian government, Son said that he was hoping to rethink about his investment plans and give back to the society. India’s ‘electricity for all’ aims to offer access to electricity by all its citizens. Appreciating the country for its potential and supportive government, the chief executive expressed his will to extend his support.

He further added that India required security and independence of energy sources to serve its huge population. According to Son, that the crude oil and coal imports of India stood at $88 billion and $22 billion respectively. Also, the country had observed a 20 per cent hike in petrol prices as well.

Solar tariffs in India

The solar energy capacity has increased eight-folds from about 2.63 GW in 2014 to 22 GW in June 2018. Solar tariffs in the month of July reached the lowest – Rs. 2.44 per unit, thereby making India one of the most desirable nations for solar power generation across the world. The country has aimed to achieve 175 GW of renewable energy capacity by 2022.

International Solar Alliance (ISA)

Launched at the Paris Climate Talks in 2015, the International Solar Alliance is a platform that comprises around 121 countries that are equipped with solar power. Its aim is to generate an investment of over $1000 billion by 2030 to deploy affordable solar power at a huge level.

According to reports, SoftBank plans to make investments worth $60 billion-$100 billion towards solar power generation in India.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Exclusive

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Important Sectors

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...