Connect with us

Hi, what are you looking for?

CleanTechnica
SoftBank and Saudi Arabia will cooperate to build the world's largest solar power plant. It will cost $200 billion and generate 200 gigawatts of electricity.

Clean Power

Saudi Arabia & Softbank Will Partner To Build World’s Largest Solar Power Plant

SoftBank and Saudi Arabia will cooperate to build the world’s largest solar power plant. It will cost $200 billion and generate 200 gigawatts of electricity.

What do the United States and Saudi Arabia have in common? Oil, and lots of it. So what does it say when one is planning to build the largest solar power plant in the history of the world and the other is treating solar energy like a distant cousin with leprosy? Can you say, “cognitive dissonance,” boys and girls?

solar power plant

Credit: PixaBay via Engadget

Saudi Arabia and Japanese powerhouse SoftBank announced today they will build a solar power plant so huge — 200 gigawatts — that it will exceed the amount of solar power installed in the entire world in 2017 by 30%. Once completed, it will triple the amount of electricity generated by Saudi Arabia, which currently gets all its power from burning oil and natural gas. The project is projected to cost $200 billion.

Engadget reports SoftBank founder Masayoshi Son, who is known for supporting bold initiatives, told the press recently, “The kingdom has great sunshine, great size of available land and great engineers, great labor, but most importantly, the best and greatest vision.” That “vision thing,” as George W. Bush would say, is reflected in the agreement made a year ago to create a $93 billion fund to promote investments in high tech companies pursuing research in artificial intelligence and robotics.

In fact, it is called the SoftBank Vision Fund. When it was created, it said “The next stage of the Information Revolution is under way and building the businesses that will make this possible will require unprecedented large scale, long term investment.” The fund will “seek to buy minority and majority interests in both private and public companies, from emerging businesses to established, multi-billion-dollar firms. It expects to obtain preferred access to long-term investment opportunities worth $100 million or more.”

In addition to the Saudi sovereign wealth fund, other fund participants include Abu Dhabi’s Mubadala Investment, which has committed $15 billion, Apple, Qualcomm, Foxconn Technology, and Sharp Corp. The Vision Fund is expected to be a major participant in the Saudi/SoftBank solar power plant project. No starting date for the installation has been announced, although the parties say they have the plans for it in place. The project is expected to create 100,000 jobs during the construction phase.

All this while Trump the Despicable plots to make the coal industry great again at the expense of the health of American citizens. By the time America stops going backward, the rest of the world will have passed it by. Trump is doing everything in his power to make America uncompetitive with other world nations in the years and decades to come.

Related:

SoftBank Scores 950 Megawatts Of Solar In India In 2 Years

Softbank–Saudi Tech Fund Now Largest In World — $93 Billion For Investments In AI, Robotics, Etc.


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Written By

Steve writes about the interface between technology and sustainability from his homes in Florida and Connecticut or anywhere else the Singularity may lead him. You can follow him on Twitter but not on any social media platforms run by evil overlords like Facebook.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Advertisement

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

EV Sales Charts, Graphs, & Stats

Advertisement

Our Electric Car Driver Report

30 Electric Car Benefits

Tesla Model 3 Video

Renewable Energy 101 In Depth

solar power facts

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

The Indian subsidiary of Finnish utility Fortum has joined the long queue of Indian solar power developers looking to sell their assets. According to...

Boats

Genius is a difficult thing to understand. To those of us who, like me, are on the outside of it, genius can sometimes seem...

Clean Power

SoftBank has finally ended months of speculation about its future in India’s renewable energy market. 

Clean Power

The Indian solar power market has witnessed yet another record low tariff in a 1,070 megawatt tender.

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.