Japan's SoftBank Group Corp said on Thursday it is forming a joint venture with Sharp Corp in the solar power plant business, a move that could give a boost to Sharp's ailing solar panel operations.
The joint venture, which will be launched in December, will offer panel installation and maintenance services, initially to some 30 solar power plants operated by SoftBank's solar energy subsidiary in Japan, the telecoms group said.
SoftBank will own a majority of the new firm, which is expected to have capital of around $1 million, the company said.