Saudi Postpones $200 Billion Softbank Solar Project

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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.