"Globally, wind power in particular has very good cost performance," Son mentioned. On a symposium held during the launch of the Japan Renewable Energy Foundation.
Son, who put in 1 billion yen of his own money to create the foundation in the raise of Japan's nuclear crisis, said Softbank will invest 10 to 20 billion yen ($129-$257 million) in the new business that it aims to set up by the spring of 2012.
Japanese telecom firm Softbank Corp owned by Masayoshi Son, mention wind and geothermal power will likely be key components of his new power generation business, together with solar power.
Softbank, Japan's No.3 mobile phone operator and distributor of Apple Inc's iPhone in Japan, will reinvest any returns on the investment into renewable energy sources for the next 40 years, Son said.
Son is seeking partners to support seed project in order to finance of several hundreds of billions of yen.
Japan last month passed a bill to promote investment in renewable energy sources by requiring utilities to buy electricity from solar and other renewable sources, which could help new forays into the country's insular power business.
Son said the lack of clarity made it difficult to approach potential investors.
But key details, such as the price at which utilities will be required to buy power, and whether or not utilities can refuse to buy, remain undecided.
"If the utilities can refuse to buy, the (push for renewables) will not grow at all."
Son also said that to make renewable energy a viable and stable source of power over the long term, Japan needs to spearhead the creation of an Asia-wide smart grid, linked via undersea cables, connecting different energy sources and users.
"I am tired of hearing what can't be done," Son said. "This (pan-Asia smart-grid network) may take 20 to 30 years. But I think it's clear to the people what needs to be done."
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