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Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel
Oil, Gas, Petrochemical and Energy Field Specialized Channel

Saudi Postpones $200 Billion Softbank Solar Project

This project expected to have the capacity to produce up to 200 gigawatts by 2030.

 

Saudi Arabia has shelved a $200 billion plan with SoftBank Group Corp. to build the world’s biggest solar-power-generation project, the Wall Street journal reported on Sept. 30, citing Saudi government officials.

No one is actively working on the project, and instead, the Saudi kingdom is working up a broader, more practical strategy to boost renewable energy, to be announced in late October, the WSJ reported.

SoftBank CEO Masayoshi Son had announced in March a plan to invest in creating the world’s biggest solar power project in Saudi Arabia, a project expected to have the capacity to produce up to 200 gigawatts by 2030.

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