The Softbank Vision Fund will begin a major investment partnership with Saudi Arabia that could see 200GW of solar generation capacity installed.
Installation of the solar panels is planned to start this year, and the project should start producing electricity by the middle of next year.
From past year, Softbank is planning to work on several projects with Saudi Arabia which includes developing a new business "Neom" and industrial city in the country.
The Japanese company's Vision Fund is also said to plan investments of as much as US$10 billion in state-controlled Saudi Electricity Co as part of efforts to diversify the utility into renewables and solar energy.
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". The sale of about a 5 per cent stake in oil giant Saudi Arabian Oil Co is expected to provide more funds. Saudi Arabia is also seeking a role in solar research and development.
"This MOU and the sub-project coming out of it will enable the exportation of more oil", said the Saudi embassy statement. The current target is for it to be completed by 2030.
The project will eventually generate 200 gigawatts of energy, far more than any existing solar project.
"Saudi Arabia is clearly preparing for a post-fossil fuel dependent economy in terms of domestic energy consumption, and this huge bet on renewables would free up a lot of domestic output of oil for exports, while probably saving domestic gas resources as well", said Peter Kiernan, lead energy analyst at the Economist Intelligence Unit in Singapore. It is said that SoftBank aims to invest 15 billion Dollars in a new city, Neom, which the Prince plans to build on the Red Sea. The kingdom's sovereign wealth fund has reportedly committed $45 billion to the massive technology investment vehicle, which counts Uber, Nvidia and WeWork among its largest investments.
Major solar installations, like nuclear plants, could also help free up oil burned for electricity at home for export overseas - which might hint at one additional motivation for the agreement.
This will allow our temperatures to get around 60F, which is much cooler than where we should be for this time of the year. Scattered showers will continue around western Montana this morning, then begin to move out by late morning and afternoon.
Remington and other gunmakers have suffered from slumping sales in the past year as fears of stricter gun laws have faded. It now employs 3,500 people and is among the largest American manufacturers of ammunition and firearms.
The budget has put an emphasis on improving the environment, health, education, water, sewer and road infrastructure in the city. It is for the third consecutive year that education is getting around 25 per cent of the budget allocation.
The Nigerian born boxer watched Dillian Whyte sealed victory at the 02 Arena on On Saturday night put money where his mouth was. Wilder remains the No 1 target for Whyte, although a fellow contender and some other big name Brits might be on the agenda...
A more tranquil weather pattern will return from Good Friday through Easter Sunday as high pressure builds over the Southeast. Thursday: Partly sunny with a 20 percent chance for snow early in the morning and a few sprinkles in the early afternoon.
However, captain Asghar Stanikzai posted 39 not out off 29 balls to see out the win for Afghanistan with five balls to spare. It was not just the dream of us the team , it was the dream of Afghanistan . "We have beaten them twice in this tournament".
As you're probably aware, Easter doesn't land on the same Sunday every year - which means Palm Sunday doesn't either. The week marks the Last Supper on Maundy Thursday, crucification on Good Friday and resurrection on Easter. " Rev.
But the Mariners would've needed to keep Ford on their 25-man roster the entire season or else offer him back to the Yankees . Bird hit.244/.426/.512 with three home runs in 13 games during the Yankees' postseason run previous year .
The 27-year-old has played 41 times for the Blues this season, netting on 15 occasions and providing another 11 assists. "No.9, No.10 - I can play left-back if the manager wants, no problem", Goal .com quotes Hazard as saying.
Attorney Michael Cohen filed court documents last week that claimed each violation of her agreement carries a $1million penalty. They say she broke a non-disclosure deal signed before the 2016 presidential elections, which she claims is invalid.
Brighter, warmer today, rain chances tonight
This will allow our temperatures to get around 60F, which is much cooler than where we should be for this time of the year. The forecast for Opening Day at Comerica Park on Thursday against the Pittsburgh Pirates comes with good and bad news.
Memorial for French terror attack victims
One of the officers was shot in the shoulder but the injury is not life-threatening, a police spokesman told the news service. The man first hijacked a vehicle in Carcassonne, killing a passenger and injuring the driver, before shooting a policeman.
Logitech Crayon and Rugged Combo 2 Are Only for Classrooms
The so-called "digital pencil" sports an 8-hour battery life and instantly connects to an iPad without the need to pair. At half the price, the Crayon is a great alternative to the Apple Pencil, if you're okay with the chunkier design .
Chrome in a new form for education: Acer Chromebook Tab 10
The iPhone maker is hosting a special education-focused event that promises "creative new ideas for teachers and students". They can make updates, configure apps, as well as manage extensions and policies with the Chrome Education license1.
Woman bites Beyoncé on the face
The interview updates a previous mention Tiffany gave in an interview about the superstar, in which she went into less detail. It took place at an Inglewood, California after-party following a Jay-Z show.