Babylon NEOM

Saudi Arabia starts work with SoftBank on 200 gigawatt solar plan. Mohammed bin Salman has publicly stated many times that NEOM (Babylon), his ‘silicon valley in the Arabian Desert’ or ‘high-tech oasis’ will be based on solar energy. NEOM’s power plant construction has begun.

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.

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