Saudi Arabia’s Public Investment Fund denies media reports on 200 GW project

Saudi Arabia’s Public Investment Fund (PIF) denies a »Wall Street Journal« report, according to which the giant PV project announced last March by Japanese technology and finance group Softbank Corp. and the government of the Kingdom of Saudi Arabia with an investment volume of up to 200 billion dollars and 200 GW of capacity is currently on ice (see News from October 1).
Several media, including Saudi Press Agency (SPA), cite a PIF spokesperson claiming that the fund continues to work with the SoftBank Vision Fund, and other parties, on the project. This includes solar generation projects and joint plans to develop large-scale solar panels manufacturing facilities, the spokesman said: »These plans to develop a leading champion for the industry remain on-track and in-line with the timeline that would be anticipated for projects of this scale and ambition.« More detailed information on concrete actions related to the project were not provided.

Related News