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JUN 23 2015

Bharti group,SoftBank teaming up for India's booming renewable energy market

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 23rd JUN 2015

Is the Bharti group together with Japanese conglomerate SoftBank making a big push into the fast-growing renewable energy market in India?

There is growing speculation that could well be the case with the chairman of Bharti Enterprises Sunil Bharti Mittal and Japanese giant SoftBank's founder, Mayasoshi Son addressing a joint press conference starting in just over an hour from now. 

The two may announce a JV which will mark their entry into a still nascent sector in the country.The two companies already have a joint venture, Bharti Softbank or BSB for mobile internet.

The installed capacity of renewable energy in the country reached 32,269.6 megawatts according to the renewable energy status report 2014. Consequently, the renewable energy, now constitutes 28.8% of the overall installed energy capacity in in the country. 

Earlier this month, ET had reported that Bharti Enterprises managing director Manoj Kohli was set to leave his current position and could join a renewable energy venture . Bharti spokesperson had in an email had said: "Manoj Kohli is a long standing and valued Bharti leader and has undertaken various assignments within the group. Manoj will continue to support Bharti's growth plans." 

This could be an indication that Kohli may play‎ a key role in the new renewable energy venture

 

Tags

Mittal Processors Pvt Ltd Renewable Energy Energy Joint Venture India

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