Fri, Aug 21, 2015 - Page 13 News List

Talks of Hon Hai solar investment in India reported

LAND OF OPPORTUNITY:Indian Prime Minister Narendra Modi has been making promoting clean energy in India, leading to investment deals for Taiwan

staff writer, with CNA

Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, is in talks with Japan’s telecom services supplier Softbank Corp and Indian conglomerate Adani Group over solar energy investments, according to a Reuters report.

The report cited sources familiar with the negotiations as saying that the three have been discussing the possibility of investing US$3 billion to manufacture solar cells and panels in India.

Indian Prime Minister Narendra Modi’s government has been gearing up to develop clean energy in India.

Modi has anticipated that renewable energy industries would generate US$160 billion in business opportunities over the next five years.

A source said that Adani founder Gautam Adani, Hon Hai chairman Terry Gou (郭台銘) and Softbank chairman Masayoshi Son have been in talks on the likely investment project for weeks and they could finalize the deal in the coming months.

Before the talks with Softbank and Adani surfaced, Hon Hai had announced plans in late June to team up with a Japanese business and an Indian business group, Baharti, in a joint venture — SBG Cleantech — to penetrate the Indian renewable energy market, such as solar and wind energy.

Earlier this month, Gou said his group planned to invest US$5 billion in India’s Maharashtra state over the next five years.

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