South Indian state of Andhra Pradesh to seek funds from Softbank corp for solar projects

South Indian state of Andhra Pradesh to seek funds from Softbank corp for solar projects

JICA and JBIC, to fund the 4,000 mw ultra super critical thermal power project in Andhra Pradesh

Japanese Softbank has shown interest in funding 10,000 Mw of solar power in India.

During Andhra chief minister Chandrababu Naidu’s weeklong tour to Japan; he has invited Softbank to partner with his state to develop 2500 MW solar power and some more investment proposals.

Chief minister further added that the chairman and CEO of ‘Softbank Corp’ Masayoshi Son has also shown great interest in setting up research and manufacturing facilities in Andhra Pradesh to bring down the cost of solar power. The plan is to bring the cost of the solar power to Rs. 4 per unit.

JICA and JBIC, other Japanese lending institutions have also shown their interest in funding the proposed 4,000 mw (Joint Venture) ultra super critical thermal power project with the Japanese partner ‘Sumitomo Corporation’ at low interest rates.

In total 6 MoUs have been signed during Mr. Naidu’s Japan visit. Two of them are between Yokohama an Kakinada cities and the entry of Japanese retail majors.

Mr. Naidu also emphasized upon Andhra Pradesh’s potential to become South east asia’s logistic hub.

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