Saudi Arabia and its funding partner SoftBank have reportedly shelved plans for the $200-billion project. It was part of the kingdom's economic transformation plan and would have produced three times the energy it needs.
Business
Saudi Arabia puts world's biggest solar power project on hold
Saudi Arabia and its funding partner SoftBank have reportedly shelved plans for the $200-billion project. It was part of the kingdom's economic transformation plan and would have produced three times the energy it needs.
Bildergalerie Die Wüsten in der arabischen Welt (picture-alliance/dpa)
Citing Saudi government officials, the US business daily The Wall Street Journal (WSJ) reported Monday that Saudi plans to build the world's largest solar power generation facility had been shelved, as the desert kingdom was working on a "broader, more practical strategy to boost renewable energy."
The solar project was expected to generate about 200 gigawatts of energy by 2030 — more than three times the country's daily requirement.
"It is easy to sway or grab one's attention, but difficult to do any execution," WSJ quoted a senior adviser to the Saudi government as saying. Now, no one was actively working on the project, the source added.
SoftBank, a partner in the $200-billion (€172.4-billion) project, was not immediately available for comment. The Japanese financial group together with the Saudi sovereign wealth fund has already created a $100-billion venture, the Vision Fund, aimed at boosting technology investment in the country, including in Saudi Arabia's renewable energy sector.
https://www.dw.com/en/saudi-arabia-puts-worlds-biggest-solar-power-project-on-hold/a-45706685
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