Blog note: Mohammed bin Salman has publicly stated many times that NEOM, his ‘silicon valley in the Arabian Desert’ or ‘high-tech oasis’ will be based on solar energy. End of note.

Saudi starts work with SoftBank on 200 gigawatt solar plan: minister

DECEMBER 19, 2018.

RIYADH (Reuters) – Saudi Arabia has already started implementing an agreement with SoftBank Group’s (9984.T) Vision Fund to provide 200 gigawatts of solar power in the kingdom, energy minister Khalid al-Falih said at a post-budget event.

The kingdom’s Public Investment Fund agreed to invest $45 billion in the giant tech fund led by SoftBank and the pair are working with other parties on a number of large-scale, multi-billion dollar projects relating to the solar industry.

The PIF and private sector will fund renewable energy projects in the kingdom, Falih said.