Saudi Arabia shelves $200 billion SoftBank solar project

• 6 years ago (2018-10-01)
• David Flin

Middle East 326 Solar 272

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It has been reported that Saudi Arabia has shelved a $200 billion plan with SoftBank Group of Japan to build what would have been the world’s biggest solar power generation project. The Wall Street Journal has reported that there is no active work taking place on the project, and instead, Saudi Arabia is developing a broader strategy to boost renewable energy, to be announced in late October.

In March, Masayoshi Son, Chief Executive of SoftBank, had announced a plan to invest in creating the world’s biggest solar power project in Saudi Arabia, a project that had been expected to have a 200 GW capacity by 2030.

SoftBank declined to comment.