ImpactAlpha, April 5 – The $93 billion SoftBank Vision Fund seems to have a soft spot for big solar energy projects. Yesterday, Dealflow reported the fund is putting $1 billion into the first phase of Saudi Arabia’s $200 billion solar initiative. Now, it’s partnering with a Chinese company, GCL System Integration Technology in a $930 million project developing four-gigawatts of solar generating capacity in India.
- India’s solar plans… are ambitious. The country wants to quadruple its solar power generation to 100 gigawatts by 2022, requiring about $125 billion in capital.
- Project pipeline… SoftBank has already committed to investing $20 billion in Indian solar projects. U.K.-based Lightsource and Australian bank Macquarie, are also breaking ground on solar developments in India.