SoftBank, Saudi Arabia announce massive solar power project
29 March, 2018, 02:39 | Author: Judith Dennis
SoftBank Group's Vision Fund will invest in creating the world's biggest solar power project in Saudi Arabia, Reuters reported. That would be about 100 times larger than some of the largest projects in the world right now. SoftBank founder Masayoshi Son revealed the project Tuesday in NY at a ceremony with Saudi Crown Prince Mohammed Bin Salman.
The entire project cost is expected to run to US$200 billion, with the first phase costing US$5 billion. Sunshine is not a scarce resource.
Attia said that 200 gigawatts of solar would basically be enough to provide 95 percent of the country's current electricity needs, but since solar is only available during the day, it couldn't actually provide that much unless it was paired with massive battery installations. "But 200 GW by 2030 though, that's another question", Kiernan said. The Wall Street Journal reports that much of the project will be debt-financed. Saudi Arabia's sovereign wealth fund, the Public Investment Fund, which has more than US$224 billion in assets, spent about US$54 billion on investments past year.
The Vision Fund has funnelled $27.5 billion into 20 tech firms as of the end of December, transforming SoftBank from a Japanese telecoms upstart into one of the world's biggest technology investors. SoftBank's chief said electricity sales would generate the revenue needed for further expansion. "It will be step by step". Moreover, the potential of the IPO would be constrained if Aramco opted for a domestic-only listing rather than a public offering in London, New York or Hong Kong. Saudi Arabia's government has been the primary driver of these solar projects through its Renewable Energy Project Development Office (REPDO).
The planned capacity of the enterprise is several times greater than that of any existing solar power plant.
The solar panels will be imported at first, but the project will later include a panel manufacturing site, according to Son. "It's bold, risky and we hope we succeed doing that". The country now gets the vast majority of its 77 gigawatts of generation capacity from oil and natural gas. The size is extraordinary, and is about triple the size of the total capacity that is either online, under construction, or being developed in all of the US right now.
Saudi Arabia also plans to build at least 16 nuclear reactors in the next 25 years at a cost of more than 80 billion Dollars. It seems unlikely that all of these investments will go forward.
Chase wrote about her skepticism on Twitter Wednesday: "Seriously, I've probably made more binding agreements to grab a coffee than that Saudi/ Softbank MoU for 200GW of solar by 2030".
"We do see kind of a little bit of promise, at least in the short term, in this phase one that has been announced, there are some details around that, and the timeline is quite aggressive", he added.
The incident of tampering took place on the third day of the third Test of a four-match series between Australia and South Africa. Earlier, Steve Smith stepped down from Rajasthan Royals captain and David Warner from Sunrisers Hyderabad's captainship.
Google has emerged as the education leader in the USA market, thanks largely to laptop computers running on its Chrome software. Apple's previous price cutting, along with software changes, have been followed by an improvement in iPad sales.
Capel previously served as head coach at VCU and Oklahoma , taking both schools to the NCAA tournament during his tenure. Capel was not implicated in the investigation and found a landing spot at his alma mater.
This also does not affect South Korean automakers because they are now exporting no pick-up truck to the United States. In exchange it will be exempted from the United States steel tariffs , trade minister Kim Hyon-chong told reporters.
Production of hemp has soared since states have started to legalize cannabis , and its set to become a billion dollar industry. The Hemp Farming Act of 2018 would legalize hemp by removing it entirely from the federal controlled substances list.
The packages sent to Anacostia-Bolling and the naval warfare center did not contain explosives, according to CBS News. Officials at Fort McNair told NBC News the package they received tested positive for explosive black powder.
Granted, the Mir went through a controlled re-entry over the South Pacific, while no one knows where Tiangong-1 will wind up. Debris from a defunct Chinese space station could crash to Earth as early as Friday (Mar. 30), scientists monitoring it say.
President Donald Trump is floating the idea of using the military's budget to pay for his long-promised border wall with Mexico . Now, he is privately pushing the USA military to fund construction of his signature project.
The woman, identified in French media as Mireille Knoll , was stabbed at least 11 times and her body was set on fire. After the war, Kroll returned to the French capital and married a Holocaust survivor, who died in the early 2000s.
In another message, married Zamora allegedly wrote: "If I could quit my job and (have sex with) you all day long, I would". The student reported the police that the contact began when Zamora started "flirting" with him on a classroom chat group.
Xbox Live Games With Gold April 2018 Revealed
April is almost upon us, and that means another batch of free games for Xbox Live Gold members to download. The first will be a welcome sight for anyone with children or a particular love of Pixar: Cars 2 .
Does Facebook store your text and call logs?
If you look at the terms and conditions of use, users of Facebook have given up a lot of their rights, privacy included. While we receive certain permissions from Android , uploading this information has always been opt-in only.
Arizona bans Uber's self-driving cars after fatal crash
The National Transportation Safety Board , which makes recommendations for preventing crashes, is investigating the crash. He said he expects public safety to be the top priority for those who operate self-driving cars.
Biff: ICC missed chance to lead over ball-tampering
He was filmed not only rubbing the ball with the dirtied tape but concealing the evidence down the front of his pants . Steve Smith and Cameron Bancroft ball-tampering issue during third test against south Africa shocked cricket world.