- The Wall Street Journal has reported that there has been no active development on the 200 GW solar power project in Saudi Arabia
- Saudi Arabia is now looking at a broader and more practical strategy to boost renewable energy in the country
- Details about the planned strategy are expected to be shared by the government during an investment conference in October 2018 in Riyadh
The ambitious solar power project with 200 GW capacity that was announced by Japan’s SoftBank in March 2018 to come up in Saudi Arabia, has been ‘put on hold’, according to Saudi government officials as reported by the Wall Street Journal (WSJ).
A memorandum of understanding (MoU) for this massive project was signed between SoftBank Group Chairman and CEO Masayoshi Son and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz in March 2018 (see 200 GW PV Capacity In Saudi Arabia?).
According to the report, there has been no active development on the project post the announcement, and that the country is looking at a broader and more practical strategy to boost renewable energy.
Detailed plans for this strategy are expected to be shared sometime in late October 2018 during an investment conference, in Riyadh, which most probably will be the second annual edition of the Future Investment Initiative by the Saudi Public Investment Fund to be held between October 23 and 25, 2018.