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World’s biggest solar power plant to be built in Saudi Arabia

Saudi Arabia is going to launch the world’s largest solar power plant project. Saudi Prince Crown Prince Muhammad bin signed the agreement with  Salman Japan’s investment company Softbank on Tuesday. It had evaluated that Saudi wants to make total 200 GW of solar plants by 2030. The total expenditure will be $ 200 billion (about 13 lakh crore rupees). Not only this, about one lakh new jobs would be available in the solar plant and 2.6 lakh crore of electricity will be saved.

Saudi wants to reduce dependence on oil

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“Our company will provide full support to the Solar Project,” said Says Softbank Chairman and CEO Miyoshoi Sun. It is possible that the project can also be the hub of solar power for the world in Saudi times. Let us start the Saudi Solar manufacturing industry, ie, produce solar technologies and export it to the world. In this way, they want to minimize the internal revenue from oil and gas exports. Masayoshi said, “more than 1 lakh jobs will be created in Saudi Arabia after the start of the project”. Along with this, the expenditure on electricity will be over $ 40 billion (about 2 lakh 60 thousand crores).

 After signing the agreement, Prince Salman said, “This is a bold move. It can also be risky, but we expect it to be successful. “

Saudi steps towards Vision 2030

The throne of Crown Prince Saudi was given to Prince Salman by his father Salman bin Abdulaziz. Since then, Prince has consistently involved in the Vision 2030 campaign for Saudi change. This is because of the fact that, Saudi Arabia wants to reduce dependence on oil-gas and Haj pilgrimage. In addition, to spread into new surroundings and produce variety the economy, it wants to promote different types of manufacturing and service sectors. In the recent past, Saudi has given women the right to start a business in their own country. It had reported that the Prince wants to engage as many people as part of the economy. This is to increase the productivity of the country.

Two solar power plants ready next year

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Sun praised Vision 2030 and said, “Saudi is full of solar rays and there is no lack of land and excellent engineers. The essential country has the vision to make things successful”. According to the reports, in the next 3-4 years, Softbank will invest $ 25 billion (about Rs 1.26 billion) in Saudi Arabia. This will also inspire Prince Vision 2030. Under the agreement, the first two solar parks will start this year. Their total capacity will be 7.2 gigawatts. It has evaluated believed that by 2019, they will start generating electricity. Their total cost will be $ 5 billion (about 32 thousand million). The Softbank would spend $ 1 billion, while the rest would be collected from project financing.

Also, Read: Why Stephen Hawkins did not get Nobel Prize

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