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Briefing
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- World’s Largest Solar Project – Saudi Arabia and Japan’s SoftBank Group announced development of world’s largest solar project, a 200-gigawatt solar farm by 2030, 100 times bigger than any solar project proposed globally
- $200 Billion Investment – Solar farm to garner $200 billion investment, including $5 billion in initial phase, with contributions from SoftBank’s Vision Fund and project financing
- Biggest Energy Storage – Will construct largest utility-scale battery by 2020-2021, which will store solar energy for evening use
- Saudi’s Economic Diversification – Project part of Saudi Arabia’s plan to diversify and wean economy of dependence on oil
- Benefits – Expected to reduce electricity costs by $40 billion annually, while creating 100,000 new jobs
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Accelerator
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Market Disruption
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Sector
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Energy
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Organization
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Softbank Corp.
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Source
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Eckhouse, B. and Chediak, M., "The world’s biggest solar project comes with a ‘batteries included’ sticker",
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French, D., "SoftBank Vision Fund, Saudi Arabia to create world's biggest solar power firm",
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Cunningham, N., "Saudi Arabia spending $200B to build the world’s largest solar project",
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AcceleratingBiz analysis
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Original Publication Date
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March 29, 2018
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