Bharti group, SoftBank might enter into India's renewable energy market

The Bharti Enterprises and Japanese conglomerate SoftBank might come up with a joint venture to enter into the fast-growing renewable energy market in India.

The chairman of Bharti Enterprises, Sunil Bharti Mittal and Japanese giant SoftBank's founder, Mayasoshi Son will soon be addressing a joint press conference, according to an Economic Times report.

There is a strong speculation that they would announce a joint venture which will mark their entry into a still nascent sector in the country.

The two companies already have a joint venture, Bharti Softbank or BSB for mobile internet.

Meanwhile, the installed capacity of renewable energy in the country reached 32,269.6 megawatts according to the renewable energy status report 2014. Consequently, the renewable energy, now constitutes 28.8% of the overall installed energy capacity in the country.

Earlier this month, ET had reported that Bharti Enterprises managing director Manoj Kohli was set to leave his current position and could join a renewable energy venture.

A Bharti spokesperson had said in an e-mail: "Manoj Kohli is a long standing and valued Bharti leader and has undertaken various assignments within the group. Manoj will continue to support Bharti's growth plans."

This could be an indication that Kohli may play‎ a key role in the new renewable energy venture.
(Image: Indiatimes)