The JV, dubbed SBG Cleantech, will focus on solar and wind energy. It will be headquartered in Delhi.
SBG Cleantech aims to participate in the 2015-16 round of solar power plant tenders ?under the National Solar Mission (NSM) program and state-specific solar programs.
The Government of India is planning to increase the country’s solar energy capacity to 100GW from about 4GW, and generate 60GW of wind energy by 2022.
It has issued guidelines to establish about 25 solar parks, each with a capacity of 500MW and above, by 2022.
SoftBank will have majority stake in SBG Cleantech, with Bharti and Foxconn holding minority interests.
SoftBank chairman & CEO Masayoshi Son said: "We have already made considerable investments in the technology sector here.
"With this partnership, our goal is to create a market-leading ?clean energy company, to fuel India’s growth with clean and renewable sources of energy."
Bharti Enterprises chairman Sunil Bharti Mittal said: "Just as mobile phones have connected every Indian, renewable power has the potential to provide every Indian with access to electricity, SBG Cleantech underlines our commitment to India’s growth plans not only by eliminating energy deficit but also providing clean environment to the future generations of India."
