Saudi Arabia and Japanese tech giant SoftBank have announced a $200 billion solar power project, for completion in 2030, with a capacity of 200 gigawatts.
Saudi Arabia and SoftBank Group Corp. signed a memorandum of understanding to build a $200 billion solar power development that's exponentially larger than any other project.
signed a memorandum of understanding to build a $200 billion solar power development that's exponentially larger than any other project. SoftBank founder Masayoshi Son, known for backing ambitious endeavors with flair, unveiled the project Tuesday in New York at a ceremony with Saudi Crown Prince Mohammed Bin Salman.
The growth of the solar industry is expected to create 100,000 jobs and increase Saudi gross domestic product by $12 billion. It is also expected to save the kingdom $40 billion by obviating the need to burn domestically produced oil to generate power.
At 200 gigawatts, the Softbank project planned for the Saudi desert would be about 100 times larger than the next biggest proposed development and more than double what the global photovoltaic industry supplied last year, according to data compiled by Bloomberg New Energy Finance. “It's a huge step in human history,” Prince Mohammed said.
Saudi Arabia's public investment fund, the sovereign vehicle through which the crown prince is driving the kingdom's economic transformation, and the SoftBank Vision Fund will put up 10-20 per cent equity investment for each solar park. The rest of the funds will be raised through project financing.
Saudi Crown Prince Mohammed bin Salman and Son signed a memorandum of understanding between Saudi Arabia's Public Investment Fund and the SoftBank Vision Fund on Tuesday evening, which kick starts the process of forming a new power generation company. The intention is to complete due diligence on the project by the end of May.
The base stations integrate solar photovoltaic systems, small high-efficiency wind turbines, and advanced energy storage technologies to create a stable and resilient power supply capable of continuing operation even during grid outages. In January 2026, SoftBank began a demonstration project. Hybrid-powered base station: SoftBank is experimenting with a hybrid-powered base station that can significantly reduce base station emissions. Designed for disaster: The operator plans to use it during power outages to ensure service continuity, but will consider it for other use cases as well. The result? An expected 5 million kWh in annual energy savings. Japanese investment holding. SoftBank Corp (9434. T) has begun a demonstration project in Chiba Prefecture for a self-sufficient power generation system using solar and wind energy, aimed at decarbonizing its mobile network base stations.
[PDF Version]Contact us for competitive quotes on any of our integrated storage and energy management solutions
Get a Quote