Softbank and Foxconn Bring India Some of World’s Cheapest Solar

May 12, 2017, 1:17 PM

Companies led by SoftBank Group Corp. of Japan and Taiwan’s Foxconn Technology Co. Ltd. are bringing India some of the cheapest solar power in the world, helping Prime Minister Narendra Modi reach his ambitious clean-energy goals.

In two auctions for renewable-energy power-purchase contracts, bids from companies to supply clean electricity slid to as little as 3.8 cents a kilowatt-hour. The record is sharply below the previous bids around 5 cents and within striking distance of the lowest recorded bids in the United Arab Emirates and Chile as of quarter three of 2016, according to Bloomberg New Energy Finance.

India is ...

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