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01.10.2018 10:13
Saudi Arabia has put on hold a $200 billion SoftBank Solar project

  • © SoftBank

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

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

SoftBank Chief Executive 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 (GW) by 2030.

TAGS: Solar | Sauda Arabia | Softbank 

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