China GCL Joins hands with Softbank for $930m India Solar Venture

[CMOP + 227]

Betting big on India’s renewable energy space, Japan’s SoftBank Group has signed an agreement with China’s Golden Concord Group Ltd (GCL) to set up a joint venture firm with a $930-million investment. The JV firm will manufacture and sell solar equipment in India.

Softbank Investment Advisors will fund the project through its Softbank Vision Fund, which is the world’s largest technology investment fund, with backing from Apple, Foxconn and Saudi Arabia’s sovereign wealth fund among others. Vision Fund, which had raised more than $93 billion in May 2017, plans also to invest more than $10 billion in Saudi Electricity Co.

Read More Here: https://www.thehindubusinessline.com/companies/softbank-chinas-gcl-join-hands-for-930-m-india-solar-venture/article23417723.ece

 

[TraderTate + 186]

Didn't they just do a similar XXL deal with the Saudis?

[CMOP + 227]

16 hours ago, TraderTate said:

Didn't they just do a similar XXL deal with the Saudis?

Yes this sure did