SoftBank Is Planning a $1.2 Billion Solar Plant in Saudi Arabia

SoftBank is planning to develop a $1.2 billion solar plant in Saudi Arabia, despite facing growing scrutiny over its investments in the kingdom. The plant, to the north of Riyadh, would generate 1.8 GW of power and the Japanese firm had started preliminary talks with banks and developer to gauge interest.

SoftBank has been one of the key backers of Saudi Arabia’s Vision 2030 after the kingdom’s Public Investment Fund pledged to provide up to $45 billion for the firm’s technology-focused venture capital fund. The PIF also denied that a $200 billion solar deal signed between the PIF and SoftBank in March had been scrapped.

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