Adani in discussion with Softbank,Foxconn for $3-bn solar proj

Adani Group is in talks with Japanese telecom major Softbank and Taiwan's Foxconn to raise investments in its USD 3-billion project for manufacturing solar panels and cells in India.
"Adani Group Chairman Gautam Adani has held talks with Softbank Chairman Masayoshi Son and Foxconn head Terry Gou to seek investment for its USD three billion solar panel manufacturing project in India," a source said.
Both Softbank and Foxconn are keen to invest in the project and some formal announcements in this regard could be made in few months time, the source added.
However, the Adani Group has declined to comment on the matter.

The source further said the Adani Group like other investors wants to capitalise on the government policy to promote solar power in the country.
Earlier in June this year, the government decided to raise the solar power generation capacity addition target by five times to 1,00,000 MW by 2022, which entails an investment of around Rs 6 lakh crore.
The target of 1,00,000 MW principally comprises 40,000 MW of rooftop solar and 60,000 MW through large and medium scale grid connected solar power projects.