Caixin
Apr 03, 2018 06:12 PM
BUSINESS & TECH

GCL, Softbank Unveil $1 Billion India Solar Investment

Solar panels are seen in a solar-energy farm in Jiangling county in Jingzhou, Hubei province, on Sept. 15. Photo: VCG
Solar panels are seen in a solar-energy farm in Jiangling county in Jingzhou, Hubei province, on Sept. 15. Photo: VCG

China’s GCL Group and Japan’s Softbank will spend nearly $1 billion to set up an Indian joint venture making solar panel components, as the South Asian nation looks to ramp up production of green energy and also contemplates anti-dumping tariffs on Chinese products.

GCL System Integration Technology Co. Ltd. will own 40% of the joint venture, which will make and sell photovoltaic ingots, wafers, batteries and modules, according to an announcement from the pair on Monday. Softbank will hold the remaining 60%, with the entire project involving investment of up to $930 million.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
GALLERY
Copyright © 2017 Caixin Global Limited. All Rights Reserved.