SoftBank, PIF in early funding talks with banks on huge solar project - sources | Reuters

SoftBank, PIF in early funding talks with banks on huge solar project - sources | Reuters:

"SoftBank Group Corp (9984.T) and Saudi Arabia’s Public Investment Fund are in early talks with banks about potential funding for a multi-billion dollar solar power project planned in the kingdom, say sources familiar with the matter.

The talks follow an agreement, signed and announced in March, between PIF and SoftBank to create the New Solar Energy Plan 2030, the world’s largest project of its type.

Saudi Arabia is embarking on a huge push to transform its economy and reduce its dependence on oil. One of the world’s biggest oil exporters, Saudi Arabia’s rulers view solar power as a way to cut the amount of crude it uses to generate power at home and raise its overseas shipments."



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