Between Oil And Solar: $200bn Solar Deal - Saudi Arabia With SoftBank

Saudi Arabia is joining forces with Japanese investment giant SoftBank to create the world’s largest solar power generation project in the kingdom, aiming to spend $200bn by 2030. They signed signed a preliminary agreement for a series of solar parks throughout the kingdom with a generation capacity of 200 gigawatts, enough to power 150m homes. Initiative will be world’s biggest and aims to redefine kingdom’s oil-dominated economy.

  • Upvote 1

Share this post


Link to post
Share on other sites

Really incredible. Perhaps is more precise to say: oil and solar. 

Share this post


Link to post
Share on other sites

Expected. Sunny days 365/y. The aim is to create a domestic solar industry in Saudi Arabia.

Share this post


Link to post
Share on other sites

Saudi Arabia will never be on loose position even when all world become electric. Such a lucky country - because of Sun.

  • Like 1

Share this post


Link to post
Share on other sites

Thinking they are going to need some batteries to store all of this energy :)

Share this post


Link to post
Share on other sites

This will be a "new" Saudi oil. No doubt.

Share this post


Link to post
Share on other sites

What a great news. Every day world has to step forward to a stronger economy and save future to the following generation.

Share this post


Link to post
Share on other sites

They'll get to continue being the energy exporting financial juggernaut that oil made them originally... They have a money, and they have vision. KSA has the highest quality sunshine- cloudless, equatorial - the new "sweet crude"...

  • Like 1

Share this post


Link to post
Share on other sites

MAGA (Make Arabia Green Again) :)

  • Like 3

Share this post


Link to post
Share on other sites

"I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that." -Thomas Edison,1931.

Agreed as well as wind and hydro energy. Renewables are the way to go.

Share this post


Link to post
Share on other sites

SA have said time and time again they will be moving into other technologies to keep up with climbing renewable demands. They have all the Oil and Sun in the world what more can you ask for. 

Share this post


Link to post
Share on other sites

2 hours ago, CMOP said:

 They have all the Oil and Sun in the world what more can you ask for. 

Wind. Hey, you can't have it all.

  • Like 1

Share this post


Link to post
Share on other sites

5 hours ago, pinto said:

Saudi Arabia is joining forces with Japanese investment giant SoftBank to create the world’s largest solar power generation project in the kingdom, aiming to spend $200bn by 2030. They signed signed a preliminary agreement for a series of solar parks throughout the kingdom with a generation capacity of 200 gigawatts, enough to power 150m homes. Initiative will be world’s biggest and aims to redefine kingdom’s oil-dominated economy.

Which they will pay for with proceeds from Aramco IPO--if there ever is an Aramco IPO. 

  • Like 1

Share this post


Link to post
Share on other sites

This is a wise decision for SA. Solar power is the best sector to diversify and preserve their economy post petroleum reserves depletion. 

  • Like 1

Share this post


Link to post
Share on other sites

31 minutes ago, BlackTortoise said:

This is a wise decision for SA. Solar power is the best sector to diversify and preserve their economy post petroleum reserves depletion. 

I heard that the UAE has some of the the lowest KwH solar costs... so the Saudis must be able to do even better

Share this post


Link to post
Share on other sites

You wait for Aramco to go public and buy some stock? They're using their sovereign wealth fund for now ($45 billion from it). Don't know where they'll get the rest of the money needed for the project.

Share this post


Link to post
Share on other sites

This is really a great news for Kingdom as now they are rebranding Saudi Arabia With Diversifying their economy. And ofcourse they don't want repeat the same mistake that Venezuela did in past. Kingdom knows that Energy mix is the only solution.

  • Upvote 1

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0