Softbank to invest in 500 MW solar plant of Essel Group

SoftBank’s wing SB Energy is most likely to ink a pact to invest in a 500 megawatt solar power plant being developed by the Essel Group in Rajasthan.

Quoting sources directly involved with the deal, a report in ET said Essel Group is in early stages of developing a solar power park in Rajasthan with a total capacity of 750 MW.

An official reportedly said: “This investment will help SoftBank fast forward its plan as it will have all the necessary infrastructure NSE -0.59 %. This will reduce the time to build a plant from 12-15 months to less than six months.”

According to the report, Essel Group’s spokesperson confirmed deal, but declined to give details. And a SoftBank spokesperson said, “We don’t comment on market speculations.”

Image Credit :

Research Desk

Next Post

Shalimar Paints to raise Rs 200 crore via rights issue

Wed Nov 7 , 2018
Shalimar Paints is planning to raise Rs 200 crore via rights issue. While a major portion will be used as working capital, a portion of the funding will go as capex to reestablish its Nashik unit. Earlier, the home-grown paint company’s board has approved a rights issue of not exceeding […]
Asian Paints


Blog Stats