December 19, 2018 / 11:39 AM / 6 months ago

Saudi starts work with SoftBank on 200 gigawatt solar plan-min

RIYADH, Dec 19 (Reuters) - Saudi Arabia has already started implementing an agreement with SoftBank Group's Vision Fund to provide 200 gigawatts of solar power in the kingdom, energy minister Khalid al-Falih said at a post-budget event.

The kingdom's Public Investment Fund agreed to invest $45 billion in the giant tech fund led by SoftBank and the pair are working with other parties on a number of large-scale, multi-billion dollar projects relating to the solar industry.

The PIF and private sector will fund renewable energy projects in the kingdom, Falih said. (Reporting By Marwa Rashad and Stephen Kalin; Writing by Nafisa Eltahir; Editing by Tom Arnold)

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