Saudi Arabia’s Public Investment Fund agreed to invest $45 billion in the giant tech fund led by SoftBank
SoftBank could consider purchasing a minority stake in Saudi Electricity from the Public Investment Fund (PIF) sovereign wealth fund, according to sources
Sources say the plant, to the north of Riyadh, would generate 1.8 gigawatts of power a year
Saudi Arabia’s Public Investment Fund (PIF) instead says that it is working with Softbank and other entities on a number of large-scale multi-billion solar energy projects.
Both parties have been meeting over the past few weeks along with key international banks to determine the best financing strategy for the 200GW solar project
The bidders include ACWA Power, the renewable energy units of European utilities Electricite de France and Enel SpA, and Engie SA’s International Power.
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