Wow, mega ambitious plan in Saudi Arabia. At least someone is thinking big.
The agreement deepens SoftBank’s ties with the Saudi Arabia, and advances the crown prince’s ambition to diversify its economy.
“SoftBank seeks investment and Saudi needs energy, so it may make sense to sort the financing out in a large block and then separately hammer out the phases and the technical details,” said Jenny Chase, head of solar analysis at BNEF. “It is worth noting that many of these memorandums of understanding do not result in anything happening. ”