Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Softbank Plans to Develop Wind Power in Mongolia With Newcom

Oct. 24 (Bloomberg) -- Softbank Corp., the Japanese mobile phone company planning to invest $20 billion in Sprint Nextel Corp., plans to develop wind power projects in Mongolia.

SB Energy Corp., Softbank’s clean energy unit, will set up a venture with Mongolia’s Newcom LLC as early as this month to conduct feasibility studies on wind power generation, Naoki Nakayama, a Softbank spokesman, said by phone today. Newcom invests in clean technology and infrastructure.

The venture will this year examine a site in the Gobi desert which may have a capacity of as much as 300 megawatts of wind power, he said. Should Softbank and Newcom decide to build a wind farm there, operations may start in 2014, according to the spokesman.

Nakayama declined to confirm a Nikkei report today that the project will cost about 50 billion yen ($626 million). The venture is also considering three more sites in the Gobi, he said, adding that the four sites could have a total capacity of more than 7,000 megawatts.

Softbank President Masayoshi Son has been investing in renewable energy after the Fukushima nuclear disaster. Son is also promoting an “Asia Super Grid” plan to connect power grids from India to Tokyo to allow for stable power supply and boost the use of renewable energy in the region.

“This venture is the first step for the Asia Super Grid plan as Mongolia has the potential to become an energy supply station,” Nakayama said.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.