The Ghani Sakunala Solar Park — its first PV array under India’s Jawaharlal Nehru National Solar Mission (JNNSM) — will generate enough electricity for about 700,000 homes, at a tariff rate of 4.63 rupees ($0.07)/ kWh over 25 years.
The venture achieved commercial operation in late March, 51 days ahead of the targeted completion date under the PPA, according to an online statement.
State utility NTPC awarded the venture the rights to build the project under Phase-II, Batch-II, Tranche-I of the NSM in late 2015.
SoftBank first jumped into the Indian PV market in July 2015, when it announced plans to invest $20 billion in the development of 20 GW of solar in the country, in cooperation with Foxconn and Bharti. Foxconn, also known as Hon Hai Precision Industry, finalized its 388.8 billion yen ($3.5 billion) purchase of a 66% stake in Osaka-based electronics manufacturer and PV supplier Sharp.
SoftBank continues to develop PV projects in Japan under its SB Energy unit. In February, it completed a 43.4 MW solar project in Hamamatsu, Shizuoka prefecture, with partner Mitsui & Co.