Softbank says it is working with Saudi PIF on solar power project | Reuters

Softbank says it is working with Saudi PIF on solar power project | Reuters:

Japan’s SoftBank said on Tuesday it is working closely with Saudi Arabia’s sovereign wealth fund on a solar power-generation project, dismissing a Wall Street Journal report that it had shelved the $200 billion project with the Public Investment Fund (PIF).

“Progress continues to be in line with expectations for a project of this scale and complexity,” a SoftBank spokesman said in a written statement.

Softbank said its team has for months been working closely with the PIF and key government agencies to deliver on the New Solar Energy Plan 2030 “to transform the future of renewable energy production in the kingdom.”