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MarketScreener Homepage  >  Equities  >  Tokyo  >  SoftBank Group Corp    9984   JP3436100006

SOFTBANK GROUP CORP (9984)
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Japan's SoftBank to invest up to $100 billion in Indian solar - NHK

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06/15/2018 | 05:01am CEST
FILE PHOTO: Shop employees of SoftBank Corp work outside its branch in Tokyo

TOKYO (Reuters) - SoftBank Group Corp has decided to invest $60 billion (45.27 billion pounds)-$100 billion (75.44 billion pounds) in solar power generation in India, Japanese public broadcaster NHK reported on Friday.

SoftBank and the Indian government are expected to reach a formal agreement soon after final arrangements are made, the report said without naming its sources.

The company is expected to make the investment through a fund backed by Saudi Arabia's government, NHK said. Saudi Arabia is the largest investor in SoftBank's Vision Fund, which raised over $93 billion last year.

A SoftBank spokesman declined to comment.

In 2015 SoftBank pledged to invest $20 billion in Indian solar projects with a goal of generating 20 gigawatts (GW) of energy as the majority partner in a joint venture with India's Bharti Enterprises and Taiwan's Foxconn.

Last month SoftBank secured 200 megawatts of solar capacity at an auction in the southwestern state of Karnataka.

In April it teamed up with China's GCL System Integration Technology Co Ltd on a $930 million Indian solar energy venture.

India has set a target to achieve an operational solar power capacity of 100 GW by 2022, five times current levels, under Prime Minister Narendra Modi's renewable energy strategy.

SoftBank's Vision Fund has exposure to solar energy through its investment in the world's largest such project in Saudi Arabia announced in March.

(Reporting by Sam Nussey and Kaori Kaneko, Editing by Stephen Coates)

Stocks mentioned in the article
ChangeLast1st jan.
FOXCONN TECHNOLOGY CO LTD --End-of-day quote.
GCL SYSTEM INTEGRATION TECHNOLOGY CO LTD --End-of-day quote.
SOFTBANK GROUP CORP 0.35% 10020 End-of-day quote.8.68%
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Financials (JPY)
Sales 2019 9 354 B
EBIT 2019 984 B
Net income 2019 657 B
Debt 2019 12 280 B
Yield 2019 0,44%
P/E ratio 2019 15,94
P/E ratio 2020 6,92
EV / Sales 2019 2,49x
EV / Sales 2020 2,43x
Capitalization 11 029 B
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Number of Analysts 15
Average target price 13 064  JPY
Spread / Average Target 30%
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Managers
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Masayoshi Son Chairman & President
Raul Marcelo Claure Chief Operating Officer & Director
Norikazu Oba Manager-Finance & Planning
Tadashi Yanai Independent Outside Director
Ken Miyauchi Representative Director & Vice President
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