Softbank Corp, Japanese telecommunications and Internet Corporation planning to invest $20 billion in American telecommunications company-Sprint Nextel Corp 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, 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 and if it has decided to build a wind farm there, operations may start in 2014.
According to the spokesman Nakayama, 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.
“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.