Japan's Softbank to provide free power to members of ISA after completion of 25 years

Japan's Softbank Group Wednesday said it will provide free power to all members of the International Solar Alliance (ISA) including India after completion of 25 years of that country buying electricity generated from solar cells.

"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 (power purchase agreement) to all ISA member countries," said Masayoshi Son, Chief Executive Officer, SoftBank Group, addressing at plenary session of 2nd Global Renewable Energy Investment Meeting and Expo, (REINVEST- 2018) as per a statement.

He said, "We are 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's not a dream, we now have the resources to make this happen."

First Assembly of ISA; 2nd IORA (Indian Ocean Rim Association) Renewable Energy Ministerial Meeting and 2nd Global Renewable Energy Investment Meeting and Expo, (REINVEST- 2018) is being held at India Expo Mart, Greater Noida from October 3 to 5.

The plenary session called ‘#RENNOVATE’ held a special series of inspirational conversations with global leaders who believe passionately on renewing the planet through new ideas and technologies.

Making a presentation on the occasion Son said, "ISA has been a very important part of Prime Minister Modi's leadership. PM Modi wants 100 per cent electrification, it's a great mission, with great vision, for villages and for households (Saubhagya)".

Commending the efforts of the ISA, he said, "We are no more one nation in this mission, but 121 nations involved in bringing a change. I get involved as the chairman of the task force, sharing three outcomes - solar innovation platforms, solar technology centres and finally connecting people with power. We fully support the vision 2020 set by PM Modi." 

(With inputs from agencies.)