(Jeenah Moon/Bloomberg News)Softbank and Saudi Arabia have reached an agreement to launch a massive solar power project, one that if completed would signal a dramatic ramping up of the renewable energy industry in one of the world’s most suitable spots for solar power. Two-hundred gigawatts is four times the solar capacity in the United States and four times China’s annual pace of solar power expansion. “We have just signed an MOU to create the world’s biggest solar power generation project,” Son said in New York on Tuesday. Initially, there would be two large Saudi solar electricity generation projects, one with a capacity of 3 gigawatts and one at 4.2 gigawatts. Saudi Arabia is also seeking a role in solar research and development.

Source: Washington Post March 28, 2018 20:11 UTC