Having scrapped the $200 billion project Saudi Arabia said it will come announce a newer, broader strategy to renewable energy later this month.
According to a report from the Wall Street Journal which cites officials from the Saudi government, Saudi Arabia has shelved its plan to build the world’s biggest solar powered project with SoftBank Group Corp.
The Kingdom now plans on working on a broader strategy to boost renewable energy strategy which will be announced later this month, said the WSJ report.
Earlier in March 2018, Masayoshi Son, SoftBank’s Chief Executive, had announced a plan which would have resulted in the creation of the world’s biggest solar power project in Saudi Arabia. The solar power plant would have the capability of producing up to 200 gigawatts (GW) by 2030.
Softbank declined to comment.