Hon Hai in talks with Ja­pan’s Soft­bank, In­dia’s Adani on so­lar energy plan: Reuters re­port

The China Post - - TAIWAN BUSINESS -

Tai­wan- based Hon Hai Pre­ci­sion In­dus­try Co. ( ), the world’s largest con­tract elec­tron­ics maker, has been 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 Reuters 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.

The re­port said the three com­pa­nies aim to ex­plore so­lar energy in In­dia since In­dian Prime Min­is­ter Naren­dra Modi’s gov­ern­ment has been gear­ing up to de­velop clean energy and has an­tic­i­pated that re­new­able energy will cre­ate US$160 bil­lion worth of busi­ness op­por- tu­ni­ties over the next five years.

A source said in the Reuters re­port that Adani founder Gau­tam Adani, Hon Hai Chair­man Terry Gou ( ) and Soft­bank Chair­man Masayoshi Son have kicked off talks on the likely in­vest­ment pro­ject for weeks.

The source said that the three could fi­nal­ize the in­vest­ment projects in the com­ing few months.

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

Mar­ket sources said that spec­u­la­tion of co­op­er­a­tion among Hon Hai, Soft­bank and Adani in so­lar energy de­vel­op­ment has been cir­cu­lat­ing for some time.

In ad­di­tion to the so­lar energy pro­ject, Hon Hai re­port­edly will work with Adani’s sub­sidiary Adani En­ter­prise to in­vest US$5 bil­lion to churn out high­tech gad­gets, in­clud­ing tablet com­put­ers and smart­phones, in In­dia.

Hon Hai and Adani En­ter­prises are ex­pected to build two plants in Gu­jarat and Kar­nataka in an ini­tial stage of their in­vest­ments, the sources said. The two part­ners could as­sem­ble Ap­ple Inc.’s iPhone in the South Asian coun­try.

In early Au­gust, Gou an­nounced in a news con­fer­ence dur­ing his visit to In­dia that his group is plan­ning to in­vest US$5 bil­lion in In­dia’s Ma­ha­rash­tra state over the next five years.

Hon Hai, also known as Fox­conn Tech­nol­ogy Group ( ), is one of Ap­ple’s most im­por­tant sup­pli­ers, rolling out iPhones and iPads for the U.S. con­sumer elec­tron­ics gi­ant.

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