Saudi Arabia is trying to get rid of the need of petroleum and thus it is making new investments day by day. Now, Saudi Arabia is preparing to contruct the worlds biggest solar enegy project by taking support from Japanese Softbank.
Both having renewable and cheaper properties, solar energy is one of the best choice in the world as an alternative for using petroleum. In this case, Saudi Arabia is taking a great step with this project.
In the press conference done for explaining this topic provided the informations such as the project with 200 gigawatt power supplying will be done in 2030. Total cost will be 200 bilion dollars.
The CEO of Softbank, Masayoshi Son said that the project is vey big, at the same time it will give great support to the solar energy systems production in Saudi Arabia.
First two parts will begin in this year
The 200 gigawatt project will spread all around the country. The plan is starting the construction of first two parts wtihin this year and it is also planning to produce electricity in 2019. The total cost for these two parts was calculated as 5 bilion dollars.
The CEO Masayoshi Son indicated that after commissioning the first two parts the incomings will be used to support financially in the next parts in project. For every parts, 25 years of purchase guarantee will be given.
100 tausand of employment
In the new solar energy institude, 100 tausanf of people will be given employment. In addition to that, national income of country is expexted to raise 12 bilion dollars. Ar the same time, Saudi Arabia will save money with not using petroleum for electricity production. The expected saving from petroleum is 40 bilion dollars.