Foxconn, Softbank To Join India Clean Energy Venture Launch

Taiwanese electronics contract manufacturing company Foxconn Technology Group has teamed up with Japan’s SoftBank Corp. and Indian business conglomerate Bharti Enterprises Limited to launch a joint venture to promote clean energy in India, according to an announcement.

The three companies will invest in SBG Cleantech Limited, which will be a harbinger of solar and wind energy in India.

The new venture will invest in and develop renewable energy plants across India. It intends to participate in the 2015 to 2016 round of solar power plant tenders under India’s National Solar Mission (NSM) program and state-specific solar programs.

"Harnessing renewable energy is a key pillar in our social and environmental responsibilities strategy," says Terry Gou, founder and CEO of Foxconn.

Globally, renewable energy outpaced the growth of fossil fuels in 2015 and a record 107GW was added through wind, solar, geothermal and other natural sources. Solar in India is likely to grow by 250% in 2015, says the statement.

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