SBG Greentech

Japan's SoftBank, Bharti Enterprises and Taiwan-based Foxconn Technology Group announced a JV that will invest $20 billion (Rs.1.27 lakh crore) over a decade in renewable energy projects, marking the single biggest overseas corporate investment commitment in India.
SoftBank will own a majority stake in SBG Cleantech while Bharti and Foxconn will take minority holdings, subject to certain conditions.
The JV , helmed by the three Asian billionaires, will bid for projects across various states and look to play a role in meeting PM Narendra Modi's target of generating 100 GW from the sun and 60 GW from wind by 2022.
Bharti veteran Manoj Kohli will be executive chairman of Delhi-headquartered SBG Cleantech and Raman Nanda will be CEO.Kohli led Bharti's emerging businesses until recently.
“Our eyes are trained on India, given the vast potential that the country offers,“ Masayoshi Son, chairman and CEO of SoftBank, said in a joint statement. “We have already made considerable investments in the technology sector here. With this partnership, our goal is to create a market-leading clean energy company to fuel India's growth with clean and renewable sources of energy.“
He said India has two times the sunshine of Japan while the cost of construction of a solar park is half of Japan. “Twice the sunshine, half the cost, that means four times the efficiency.“
Bharti Chairman Sunil Bharti Mittal said the venture “has the potential to transform the Indian economy“.

The stakes of the three partners are yet to be decided and their investments will depend on the large amount of debt which is expected to be taken on. Mittal said the venture has the support of the Japanese financial system and expects low-cost loans to be made available.
Both SoftBank and Foxconn are betting big on India's growth potential.Internet and telecom powerhouse SoftBank has been making a significant push into India since last year with investments in Snapdeal, Housing.com and Ola Cabs. SoftBank has previously said it would invest $10 billion in India over time. Foxconn, one of the world's biggest contract manufacturers -it also makes products for Apple -has big plans to expand operations in India.
SoftBank is already familiar with the renewable energy sector, though just at home. In Japan, the group has constructed 16 solar power stations since the March 2011 earthquake and tsunami. As a result, it now has 453 MW of capacity to generate sustainable power, including from solar and wind parks, the Nikkei said.
Son and Mittal will be visiting Andhra Pradesh and Rajasthan over the next two days to talk to government officials there about potential projects, the Bharti boss said at the news briefing on Monday . He said that subject to winning project bids, land and other clearances, the first project should get off the ground in 12-18 months. Land acquisition should not be an issue since the venture will be using arid, non-cultivable and non-irrigable land, he said. The companies said they had agreed to a minimum commitment of generating 20 GW of energy .

The project aims to make a significant contribution to PM Modi's vision of meeting the country's energy demands through clean sources. “Just as mobile phones have connected every Indian, renewable power has the potential to provide every Indian with access to electricity. SBG Cleantech underlines our commitment to India's growth plans not only by eliminating energy deficit but also providing clean environment to the future generations of India,“ Mittal said in the release.
Group company Bharti Airtel is India's biggest phone company while the group's other ventures include real estate, insurance and food. Kishore Biyani-run Future Group is taking over its retail business.
Son said the venture will initially import equipment for the projects but will look to manufacture in India as and when it gets sufficient land to set up manufacturing plants for solar equipment, an area where Foxconn could play a key role given its expertise.
The company intends to participate in the 2015-16 round of solar power plant tenders under the National Solar Mission programme and state-specific solar programmes. “Harnessing renewable energy is a key pillar in our SER (social and environmental responsibilities) and we are excited to join our industry partners, SoftBank and Bharti, in championing clean energy solutions in India through SBG Cleantech, and supporting the country's efforts to grow its renewable energy industry ,“ Terry Gou, founder and CEO of Foxconn, said in the statement.
Given its vast population, high irradiation, growing energy demand, power deficit, limited access to fossil fuels and a large number of unlit villages, India has great potential to be a major solar market.