Essel to develop 500-MW solar park for SoftBank arm.

SB Energy, a renewable energy arm of SoftBank in India, is set to sign a deal with Essel Infra Projects Ltd., a part of Subhash Chandra-led Essel Group, for a 500 MW solar park, according to sources close to the development.

The project, to be developed by Essel Infraprojects, will be part of a larger solar plant developed by SB Energy, they added.

Essel Infra project has been developing large infrastructure projects across multiple sectors, including renewables. Its own solar capacity is around 680 MW, of which around 160 MW is operational.

A SoftBank spokesperson said the company does not comment on speculation.

HBL