Saturday, December 6, 2014: The Japan-based solar developers Softbank are planning to develop as much as 10GW solar power plant in India, commencing their project from the state of Andhra Pradesh. Softbank’s possible interest in establishing solar plant arrived after the chief minister of Andhra Pradesh, N Chandrababu Naidu, visited Japan.
During his visit, Naidu signed a MoU with recently appointed head of the Japanese Ministry for Economy, Trade and Industry (METI), Yoichi Miyazawa for industrial cooperation.
Under the terms of Memorandum of Understanding, Japan will raise its direct investment volume in the state. The investment would cover the areas of urban development, infrastructure, manufacturing and agriculture, as mentioned on the METI’s website.
METI also noted that the Japanese industrial park would be set up in Andhra Pradesh, while ministry also stated that both the parties emphasized over “the need to promote mutual cooperation to expand bilateral collaborative relationship in the energy sector.”
Meanwhile, the reports published after Naidu’s visit revealed that Softbank chief executive officer Masayoshi Son had shown interest in helping the state to set up 2.5GW of planned solar projects within next five years.
