Saudi Arabia has signed a memorandum of understanding with Softbank Group to set up the world's largest solar project. If built, the development would nearly triple Saudi Arabia's electricity generation capacity, which stood at 77 gigawatts in 2016, according to BNEF data.
The SoftBank founder Masayoshi Son, who is known for his ardent support for ambitious endeavors, presented the project at a ceremony in NY with the crowned Prince Mohammad Bin Salman Al Saud.
The initiative will be backed by Softbank's Vision Fund technology investment vehicle, with a first 7.2GW phase costing $5bn, Son said.
"You have never seen something of this scale", he is reported as saying. The Saudi state-owned investment fund, which has assets over 224 billion Dollars, invested around 54 billion Dollars past year.
By investing in solar power, Saudi Arabia, the world's biggest oil exporter, can reduce the amount of crude it now uses to generate power and increase its overseas shipments.
Speaking about the possibilities offered by Saudi Arabia, Masayoshi said at the briefing, "The kingdom has great sunshine, great size of available land and great engineers, great labour, but most importantly, the best and greatest vision".
Part of the investment will come from Softbank's $93bn Vision Fund, the largest ever private equity fund of which Saudi Arabia is the largest backer.
He said the project will create 100,000 jobs, reduce Saudi Arabia's dependence on oil for its electricity, which it can sell internationally instead.
To start $5 billion will be used as the initial investment, of which the Japan-based SoftBank fund will give $1 billion.
The project is consistent with Saudi Arabia's Vision 2030 - the Kingdom's long-term strategy to wean itself off oil revenues and diversify its economy. He predicted that the project would add as much as $12 billion to the gross national product of Saudi Arabia.
Numerous countries to follow suit on Monday said they did so out of solidarity with the British government. Stoltenberg said he would also deny the pending accreditation request for three other Russian diplomats .
They got as close as 56-51 with less than five minutes to play, but Villanova closed the game on a 15-8 run. For the record, MI has won 12 straight and hasn't lost since falling at Northwestern on February 6.
Most of those who took to the Bethel street were students, teachers, school administrators, parents, and grandparents. The march officially began at noon, but protesters started gathering along Pennsylvania Avenue near the U.S.
Daniels, in writing, waives attorney client privilege and authorizes me to speak publicly on the matter", Davidson said. The Sunday interview drew the biggest audience in years for the news program " 60 Minutes ", said network CBS .
Also omitted from the exemption list was USA ally Japan, though a government spokesman said Tokyo would press to be included. Trump's technology order is in response to "unfair and harmful acquisition of U.S. technology", said a statement by the U.S.
Smith and newly appointed skipper Tim Paine embraced in the hotel and moments later Smith left, dragging a suitcase behind him. Warner and Bancroft were also expected to receive lengthy bans and have also been expelled from the team.
Discrepancies in Spotz's alibi raised warning bells but he disappeared before police could track him down for further questioning. As part of the investigation, detectives could not corroborate details of Spotz's account and continued to look into his story.
He added that the decision was taken based on intelligence from the Garda (Irish police) and Irish defence forces. Britain has already expelled 23 Russian diplomats, with Moscow retaliating with a tit-for-tat move.
We can expect partly cloudy conditions to become mostly cloudy with showers and heavy down pours moving in by late Wednesday . Look for showers to move through the area overnight and last through the early morning hours of Wednesday .
Then, soon after the break, Pogba curled home a lovely free-kick from all of 30 yards. "There are always things we can do better". Again dribbling past the hapless Neustaedter, the Paris Saint-Germain forward knocked the ball through goalkeeper Lunyov's legs.
Membership negotiations began in 2005, but have since stalled over a number of issues that Erdogan refuses to compromise on. But, she added, "it would be delusional to believe that the European Union would grant Turkey concessions on this matter".
Kevin Love has been placed in the NBA's concussion protocol
The Miami center's elbow struck Love in the mouth, causing him to immediately retreat to the locker room for evaluation. He was evaluated this morning and still exhibited the same symptoms, making him unable to take part in tonight's tilt.
Federal Investigators Probe Tesla Crash, Fire In California
Hence the difference between Predicted EPS and Actual EPS reported is $0.08/share which shows an Earnings Surprise of 2.6 Percent. Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio.
Former UCLA forward LiAngelo Ball declares for NBA Draft
Upon his return to the United States, he was suspended indefinitely by UCLA and left the program without having played a game. LiAngelo is expected to work out for several National Basketball Association teams once he returns to the United States.
Africa is in the crash zone of falling Chinese space station
China has recently put the space station into "sleep mode" ahead of it de-orbitization and its replacement with a new model. Instead, he points out, you'd need to lodge a complaint with your government who might then seek damages on your behalf.
Fresh rebel withdrawals from Syria's shrinking Ghouta
Dozens of people had been waiting since early morning for the arrival of relatives and friends who were bussed out of Ghouta . The Russian military has said it will not tolerate the presence of armed groups near the capital.
Weather Authority: Dry weather continues into the weekend
Current model data is showing the warmer temperatures sticking around for a bit for the end of the month and into early April. Temps on Saturday and Sunday will remain above freezing between Boston and Worcester, with highs in the upper 30's.
Russia: President's legal team shake-up falters
Kelly, to stay in his job, despite the president's chafing at what he sees as the restrictions Mr. Ruddy, who is the chief executive of Newsmax Media, said he expected the chief of staff, John F.