SoftBank denies exiting renewable energy JV with Bharti Enterprises, Foxconn

SoftBank, which had announced forming a joint venture (JV) for renewable energy with Airtel’s parent Bharti Enterprises and Taiwan-based iPhone manufacturer Foxconn in 2015 — SBG Cleantech, has said it has no plans to exit the tie-up. SB Energy Global — the renewable energy arm of SoftBank — claimed the company explores ways to raise external capital from time to time. “As part of business strategy, we review all options to raise external capital, including strategic investments, from time to time. There is absolutely no plan to exit from the business,” Raman Nanda, CEO, SB Energy Global told Financial Express Online in a statement.

Nanda’s confirmation came following a report by ET on Thursday claiming that SoftBank is considering selling a majority stake in SBG Cleantech. “SBG Cleantech will be a harbinger of solar and wind energy.