Essel Group and SB Energy to jointly develop solar projects

The Essel Group has signed a pact with SB Energy, the domestic arm of Japan-based SoftBank Group, to jointly develop a 500 MW solar park in the country. The project will be developed by Essel Infraprojects. The agreement, which is part of an aggressive growth strategy, will enable the Softbank Group to further expand its portfolio in the country. SB Energy was looking for local partners for executing upcoming solar power projects with a capacity of 1 GW. Reportedly, SoftBank intends to invest $1 trillion by 2030 in the Indian renewable energy sector.

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