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Saudis, SoftBank Plan World's Largest Solar Project

  • Venture may cost $200 billion, add 100,000 jobs in the kingdom
  • Plan envisions 200GW of solar capacity in Saudi Arabia by 2030
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Softbank Signs Deal for World's Biggest Solar Project
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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.

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 powerful heir to the throne of the world’s largest crude exporter is seeking to diversify the economy and wean off a dependence on oil.