New Delhi: Japan’s Softbank Group has offered free electricity, after 25 years, to International Solar Alliance member-countries that sign power purchase agreements, Chief Executive Masayoshi Son said at a renewable energy event here.“Cost of Solar power generation is much cheaper in India compared to the rest of the world. I will give free power from solar power projects after 25 years of PPA to all ISA member countries,” Son said. “We're investing in tech and innovation so that we can harness solar energy efficiently to provide free power to children, mothers, communities across the world. It is not a dream. We now have the resources to make this happen,” he added.
The Softbank CEO was speaking at the second global RE-Invest Summit 2008, a flagship renewable energy event organised by the Indian government. The event, inaugurated by Prime Minister Narendra Modi on Tuesday, also marks the first Assembly of International Solar Alliance (ISA) and the second Indian Ocean Rim Association (IORA) Renewable Energy Ministerial Meet.
Softbank had earlier announced its foray into the Indian solar energy market with a plan to invest $20 billion to set up 20,000 Mw of capacity. Son also said he supports the vision 2020 set by PM Modi to ramp up renewable energy generation.