NEW DELHI : Softbank Group-backed (9984.T) Ola Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 gigawatt hours (GWh), a source told Reuters, as part of its broader electrification push. Ola will need 40Gwh of battery capacity to meet its annual target to produce 10 million […]
Enpal secures EUR 150m investment from SoftBank Vision Fund 2 for fight against the climate crisis
BERLIN : Just weeks before world leaders gather at the UN Climate Change Conference (COP26) in Glasgow in November to discuss measures to address the climate crisis, German solar start-up, Enpal, today announces that it has closed a EUR 150m investment from SoftBank Vision Fund 2. The investment concludes Enpal’s Series C financing round. The […]
Ola Electric lands $200 million funding from Falcon Edge, SoftBank and others at $3 billion valuation – EQ Mag Pro
The funds raised will be used to accelerate development of other vehicle platforms including electric motorbike, mass market scooter and its electric car. Ola Electric said on September 30 that it has raised over $200 million financing led by Falcon Edge, SoftBank and others, at a valuation of $3 billion. The funds raised will be […]
CPPIB to acquire SoftBank’s 80% in SB Energy for $425 million
Ending months of negotiations, SoftBank agreed last weekend to sell its entire 80% holding in SB Energy Holdings to Canada Pension Plan Investment Board (CPPIB) for $425 million. An additional $100 million will be paid subject to future outcomes, said people aware of the development. The sale price is much below the $800 million book […]
SoftBank-backed Ola targets European market for electric vehicle business
The SoftBank-backed ride-hailing firm has roped in Julien Geffard to lead Europe operations for its electric business Indian ride-hailing firm Ola is gearing up to tap the European markets for its electric vehicle business. The SoftBank-backed company is planning to bring the first of its range of electric scooters to Europe in the coming months. […]
Hawaiian Electric Reveals Full List of Winners From Its Big Energy Storage Procurement
The winners range from energy storage stalwarts to relative newcomers to the large-scale battery business. Hawaiian Electric this week revealed the full list of winners from its second large-scale procurement of energy storage and renewables for the islands of Oahu, Maui and Hawaii. The winners run the gamut from major industry players like AES and Engie to […]
Softbank-Bharti renewable JV looks to raise up to $750 million
SB Energy, the renewable energy arm of SoftBank, has mandated Bank of America Merrill Lynch and Barclays to help raise $500-$750 million in SBG Cleantech, it’s 80:20 joint venture with Bharti, multiple people aware of the development said SoftBank-backed renewable energy firm SBG Cleantech is set to reach out to financial and strategic investors to […]
SoftBank Is Selling $40B of Assets but Stands Firm on Renewable Energy Plans
In an interview, the head of SoftBank’s global renewables arm says the company will have its first gigawatt of U.S. solar capacity in operation by next year. The head of SoftBank’s renewable energy subsidiary, SB Energy Global, says his firm is committed to growing its presence in international clean energy markets despite ongoing financial struggles […]
SoftBank-Backed SB Energy & EDEN Bag 900 Megawatts Of Solar In India
A 2 gigawatt solar power tender received very a encouraging response amidst uncertainty resulting from the COVID-19 outbreak. The government-owned power generation company NHPC had floated a 2-gigawatt solar PV tender last year. The tender conditions were flexible and allowed developers to choose project site of their liking. NHPC had initially set a maximum tariff […]
SoftBank to buy back $41 billion in assets to trim debt
BANKGOK : The Japanese technology and telecoms company SoftBank said Monday it plans to buy back up to 4.5 trillion yen ($41 billion) of its assets as it seeks to trim its gigantic debt burden. The company’s founder, Masayoshi Son, said the move reflected “the firm and unwavering confidence we have in our business.“ Tokyo-based […]