SoftBank CEO Offers Free Solar Power to ISA Countries After the End of 25-Year PPA

SoftBank CEO Masayoshi Son caught the audience by surprise during the second plenary session of the second Global Renewable Energy Investment Meeting and Expo (REINVEST- 2018), being held at Greater Noida in the national capital region.

Talking at the discussion on the crucial role of renewables, Son announced, “I will give free power from solar power projects after 25 years of PPA to all ISA member countries”.

The ISA is an Indian initiative that was jointly launched by the PM Modi and the president of France on November 30, 2015, in Paris, on the sidelines of COP-21, the UN Climate Conference. The ISA seeks to address the obstacles to deploying solar energy at scale through the improved harmonization and aggregation of demand from solar-rich countries located fully or partially between the Tropic of Cancer and the Tropic of Capricorn.

Elaborating further, Son said, “We’re already investing in technological advancements and innovation, so we can harness solar energy efficiently to provide free power to children, mothers, and communities across the world. It’s not a dream, we now have the resources to make this happen”.

Answering a question on the efficiency of solar panels over years, Son also informed the audience that after a decline in the capacity over the first five years, solar panels continue to generate electricity at the rate of approximately 85 percent for the rest of its project life, usually 80 to 100 years.

Commenting on the initiative undertaken by India for the establishment of the International Solar Alliance (ISA), Son 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 a 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. Cost of solar power generation is much cheaper in India compared to rest of the world”.

Hailing India’s efforts to achieve universal electrification, Son added, “ISA has been a very important part of Prime Minister Modi’s leadership. PM Modi wants 100 percent electrification, and it’s indeed a great mission, with great vision, for villages and for households.”

The second edition of Global RE-Invest was inaugurated on October 2, 2018 in the presence of Prime Minister Narendra Modi, the Secretary General of the United Nations Antonio Guterres, External Affairs Minister Sushma Swaraj and Minister of Power R.K. Singh.

The second RE-Invest aims at accelerating the worldwide effort to scale up renewable energy and connect the global investment community with Indian energy stakeholders.  This is a three-day conference on renewables, cleantech and future energy choices, and an expo of renewables-related manufacturers, developers, and investors.