India’s solar energy market is growing at a rapid pace. Image source: Shutterstock (#420347737) pictures India Gate in New Delhi.
Companies under the SoftBank Group Corp. of Japan and companies led by Foxconn Technology Co. Ltd. have secured renewable-energy power-purchase contracts during two auctions last week. According to Bloomberg New Energy Finance, the negotiated prices are some of the lowest in the world.
This will help Indian prime minister Narendra Modi reach the ambitious clean-energy goals he has set for the country, and grant access to India’s rapidly expanding solar market to SoftBank and Foxconn.
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