SoftBank Energy India sale: Cautionary tale for foreign companies

Industry execs say ambitious plans couldn't match up to Indian policy environment

SoftBank Energy India (SB Energy) ended its short five-year tryst with India on Wednesday, having previously promised free power from solar plants and an investment of $1 trillion in the country’s renewable energy sector.

The company is exiting India without being able to complete its largest project, the 750 Mw solar park in Kadapa, Andhra Pradesh, as the state never handed over land or signed an agreement with it. 

This also marks the largest investor exit from the Indian renewable energy market. The previous instance was US-based solar company SunEdison’s exit in 2016, but that was because of the firm’s financial troubles.