{"id":22483,"date":"2020-01-09T12:32:51","date_gmt":"2020-01-09T07:02:51","guid":{"rendered":"http:\/\/www.greenworldinvestor.com\/?p=22483"},"modified":"2020-01-09T12:32:51","modified_gmt":"2020-01-09T07:02:51","slug":"softbank-to-exit-the-indian-re-sector-amid-global-crisis","status":"publish","type":"post","link":"https:\/\/iiec-india.org\/greenworld\/2020\/01\/09\/softbank-to-exit-the-indian-re-sector-amid-global-crisis\/","title":{"rendered":"Softbank to Exit the Indian RE Sector Amid Global Crisis"},"content":{"rendered":"<p style=\"text-align: justify;\">Softbank, the Japanese Telecom giant, made it big with its investment in\u00a0Alibaba, the Chinese e-commerce group. The bank started its story in India with\u00a0investments in Indian e-commerce businesses like Snapdeal, Housing.com, and Ola.\u00a0 Later, Softbank became the majority stakeholder in SBG Cleantech a JV along with India&#8217;s\u00a0Bharti Enterprises and Taiwan\u2019s Foxconn. It also tried\u00a0to score brownie points with the Indian government&#8217;s \u201c<strong>Make in India<\/strong>\u201d as it tried entering into <a href=\"https:\/\/www.greenworldinvestor.com\/2016\/09\/27\/what-is-softbank-smoking-by-planning-to-make-solar-panels-in-india\/\" target=\"_blank\" rel=\"noopener\"><em>solar panel manufacturing<\/em><\/a>.<\/p>\n<p style=\"text-align: justify;\">Softbank was going big in the Indian Renewable energy sector and had announced a $100 billion investment into India\u2019s solar industry over the next 10-15 years.\u00a0\u00a0The company had already built a substantial portfolio of\u00a0solar power projects in India\u2019s\u00a0rapidly growing solar energy sector, at that point in time.\u00a0Softbank became popular for its audacious plans and its ever more audacious investments. However, the company is now planning an exit from the Indian energy market as it is mired in the global crisis and\u00a0looks at\u00a0raising cash amid global investment setback.<\/p>\n<p style=\"text-align: justify;\">Softbank is\u00a0already in\u00a0talks with sovereign wealth and pension funds from the Far East and Gulf regions\u00a0and a few\u00a0Silicon Valley technology giants. However, still at an early stage and may not result in a deal. The company is open to\u00a0an outright sale of its 70% stake in <strong>SBG Cleantech<\/strong> and also\u00a0a majority stake sale. It is looking for a partner\u00a0who can\u00a0offer equity commitments of $1.5 billion-$2 billion to execute and complete a pipeline of 7 GW of renewable projects worldwide.<\/p>\n<p style=\"text-align: justify;\">The Indian\u00a0solar power sector is already facing a <em><a href=\"http:\/\/www.greenworldinvestor.com\/2018\/11\/05\/financial-woes-slow-down-the-pace-of-solar-development-in-india\/\" target=\"_blank\" rel=\"noopener\">slowdown with lower capacity addition<\/a><\/em> in the past two years &#8211; from 9.4 GW in 2017-18 to 6.5 GW in 2018-19 and just 2.9 GW in the first half of 2019-20. We hope that this development from Softbank\u00a0is not bad news for the energy sector in India.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Softbank, the Japanese Telecom giant, made it big with its investment in\u00a0Alibaba, the Chinese e-commerce group. The bank started its story in India with\u00a0investments in Indian<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[30,45,51],"tags":[4709],"class_list":["post-22483","post","type-post","status-publish","format-standard","hentry","category-india-green-stocks-greeninvest","category-solar-renewable-energy-greeninvest","category-solar-news","tag-softbank-to-exit-the-indian-re-sector-amid-global-crisis"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/22483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=22483"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/22483\/revisions"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=22483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=22483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=22483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}