SoftBank CEO meets AP chief minister Naidu

CM Naidu informs Softbank CEO that his govt has unveiled solar and wind energy development policies

A day after announcing a joint venture for renewable energy investments in India, Japan’s SoftBank chairman and CEO Masayoshi Son on Tuesday came down to Hyderabad to hold discussions with Andhra Pradesh chief minister N Chandrababu Naidu, whose government has drawn up massive plans in solar and wind energy development.

During their meeting, chief minister Naidu informed the Softbank CEO that the state government had already unveiled solar and wind energy development policies apart from setting ambitious targets in renewable energy development.

Bharti Enterprises chairman Sunil Bharti Mittal, one of the joint venture partners of the SBG Cleantech Limited, and SoftBank president Nikesh Arora were also present in the meeting, which was held here this afternoon.

“When they first met in Japan last year, the Softbank CEO promised Naidu that he would come to Hyderabad to meet him during his India visit. Today’s meeting is a part of that commitment,” the chief minister’s office said in a statement.  Naidu said his government was willing to partner with the joint venture in promoting eco-friendly projects, including renewable energy projects, in the state, it said.

The SoftBank CEO assured Naidu they would become a part of his efforts to make the state a role model in renewable energy development. Naidu suggested to  Son that they should also look at investing in the electronics and hardware sector.

When asked if there were any specific proposals, a senior government officials said the discussions were of a preliminary nature.

Naidu  informed the visiting CEOs that the transmission and distribution (T&D) losses were only 10.6 per cent in AP and the power utilities were already given a target to reduce these losses by 50 per cent in the next 2-3 years.