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On March 38, SoftBank Group CEO Masayoshi Son announced a $200 billion solar power project
in Saudi Arabia.
It would be SoftBank's largest investment
ever.
SoftBank announced a $200 billion Saudi solar power project
The project is in collaboration
with Saudi Arabia's Crown Prince Mohammed bin Salman.
The crown prince is a partner
in the SoftBank Vision Fund, which was established in 2016.
The fund has invested in companies
in the United States, India and Europe.
The deal, announced at a press conference in New York, is Saudi Arabia's first major deal
.
Son said the abundance of sunshine and land, as well as Saudi Arabia's engineers and tech crowd, make solar energy lucrative here
.
Son said the project will create 100,000 jobs, reduce Saudi Arabia's dependence on oil, generate 200 gigawatts of electricity by 2030, and sell electricity internationally
.
Son described the project as "the world's largest solar power project.
"
According to reports, at first solar panels will be imported, but later projects will include a panel manufacturing and assembly plant
.
Construction of the solar power project will begin immediately, and electricity generation
is expected to begin next year.
，
On March 38, SoftBank Group CEO Masayoshi Son announced a $200 billion solar power project
in Saudi Arabia.
It would be SoftBank's largest investment
ever.
SoftBank announced a $200 billion Saudi solar power project
SoftBank announced a $200 billion Saudi solar power projectThe project is in collaboration
with Saudi Arabia's Crown Prince Mohammed bin Salman.
The crown prince is a partner
in the SoftBank Vision Fund, which was established in 2016.
The fund has invested in companies
in the United States, India and Europe.
The deal, announced at a press conference in New York, is Saudi Arabia's first major deal
.
Son said the abundance of sunshine and land, as well as Saudi Arabia's engineers and tech crowd, make solar energy lucrative here
.
Son said the project will create 100,000 jobs, reduce Saudi Arabia's dependence on oil, generate 200 gigawatts of electricity by 2030, and sell electricity internationally
.
Son described the project as "the world's largest solar power project.
"
According to reports, at first solar panels will be imported, but later projects will include a panel manufacturing and assembly plant
.
Construction of the solar power project will begin immediately, and electricity generation
is expected to begin next year.
，
