The main Group Softbank Corp. Executive Masayoshi son, announced Wednesday a solar power plant project in Saudi Arabia, which he described as the “world’s largest solar power 200 billion dollars.”
The project is implemented in cooperation with the Kingdom of the young and powerful crown Prince Mohammed bin Salman, partner of Softbank vision to create in 2016. The Fund has already invested in the company in USA, India and Europe.
The deal is the first major investment Fund in Saudi Arabia. It was announced in new York after Saudi Arabia and the United States of the forum, the Director General held a multi-day on the sidelines of the crown Prince US tour
Enough of the sun and earth and Saudi Arabia, the pool of engineers and skilled workers will make a foray into solar is a profitable, his son said.
He said that the implementation of the project will create 100,000 jobs, reduce the dependence of Saudi Arabia on oil for electricity, which he can instead sell it at the international level, and will generate 200 gigawatts of electricity by 2030.
Kingdom, which is one of the largest oil producers in the world, measures its local energy consumption will increase three times by 2030. To increase renewable energy, the crown Prince outlined the original purpose of the creation of 9.5 GW of renewable energy in its “vision 2030” plan, which is the basis of economic goals, aimed at creating additional jobs for the majority of the young population to the labour market in the coming years and the diversification of the economy away from its dependence on oil exports for sale.
Solar panels for the project will be imported at first, but later include the manufacture of panels and assembling, according to the son. Work on the project will begin immediately and the production of electricity will begin next year, he told reporters.
In the ad can increase confidence in the efforts of the crown Prince, to attract billions of dollars of foreign investment during his U.S. tour after unprecedented arrest of hundreds of prominent personalities in Saudi Arabia, including prices, business magnates and officers in the past year. The alleged anti-corruption sweep that the Prince watched, scared away many foreign investors, who are concerned about transparency and predictability.
Softbank, founded in 1981, has in its sprawling Empire investment financial technologies, the ride-booking service and pepper human-shaped robot companion.
The first telecommunications operator to offer the iPhone in Japan, softbank bought the British semiconductor manufacturer ARM and Japanese professional baseball team, the Softbank hawks.
The son was a critic of nuclear energy after the 2011 tsunami set off multiple crises in Fukushima in northeast Japan, the worst nuclear disaster since Chernobyl, and sees solar energy as a key element of the strategy of the company.
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Associated Press writer Aya Batrawy in Dubai contributed.
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