SoftBank Withdraws from Solar Power Business... S B Energy Sells India Operations

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[Asia Economy Reporter Kwon Jae-hee] SoftBank Group (SBG), led by Chairman Masayoshi Son, is selling its 80% stake in the Indian renewable energy company 'SB Energy India' to a local competitor.

According to the Wall Street Journal (WSJ) on the 19th (local time), India's Adani Green Energy announced that it has agreed to acquire SB Energy India.

Adani did not disclose the purchase price, but explained that this deal is the largest transaction in the renewable energy sector in India, with SB Energy valued at $3.5 billion (approximately 3.969 trillion KRW) in this deal.

The Journal reported that with this acquisition, Adani has solidified its position as the number one solar power developer in India.

WSJ evaluated, "This sale effectively marks the end of Chairman Son's efforts, who had poured billions of dollars into encouraging investment in the solar industry for some time."

Chairman Son began actively entering the solar power business following the Great East Japan Earthquake in 2011. At one point, he was so passionate about solar investment that he even considered taking a year off from the company to focus solely on the solar business, but he struggled to secure profitability from this venture.

Meanwhile, Bloomberg reported that Deutsche Telekom, the largest shareholder of the U.S. mobile carrier T-Mobile, is discussing acquiring an 8.5% stake in T-Mobile from SoftBank.

Deutsche Telekom currently holds a 43% stake in T-Mobile, and acquiring SoftBank's shares would give it a majority stake.

However, sources said that the share transaction has not yet been finalized.

This content was produced with the assistance of AI translation services.