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

[pinto + 293]

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.

[Pavel + 384]

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

[damirUSBiH + 327]

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

[jpZelabal + 63]

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

[Petar + 76]

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

[franco + 96]

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

[Pavel + 384]

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

[pinto + 293]

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"...

[jpZelabal + 63]

MAGA (Make Arabia Green Again)

[franco + 96]

"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.

[CMOP + 227]

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. 

[Rodent + 1,424]

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.

[Rodent + 1,424]

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. 

[BlackTortoise + 103]

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

[TomTom + 183]

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

[1 love investment + 1]

How do u invest in to this

[Marina Schwarz + 1,576]

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.

[Harsh vardhan singh + 36]

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.