Softbank Vision Fund to seed investment in 200GW of Saudi Arabian solar

March 28, 2018
Facebook
Twitter
LinkedIn
Reddit
Email
By 2030 the collaboration could yield 200GW of generation capacity. Source: Flickr/Edward Musiak.

The Softbank Vision Fund will begin a major investment partnership with Saudi Arabia that could see 200GW of solar generation capacity installed.

In comments to reporters in New York that have been reported widely, Softbank chief Masayoshi Son said the first phase would involve the development of 7.2GW of solar. Softbank’s Vision Fund will provide US$1 billion of the total US$5 billion required. Project finance will be sought for the remainder.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

By 2030 the collaboration could yield 200GW of generation capacity including energy storage and Saudi-based manufacturing for PV modules.

Saudi Arabia has a young, growing population, soaring electricity demand and a desire under the country’s new leadership to aggressively diversify its economy. The package of reforms are collectively referred to as Vision 2030.

Son told reporters the “two visions have come together to create clean, sustainable, low-cost and productive renewable energy”.

A government-backed plan to develop more than 100GW of solar in the Kingdom stuttered and stalled despite great fanfare. A more conservative tender programme open to private investors has been more successful with 300MW of solar already awarded. It is targeting more than 9GW of renewable deployment by 2023 and 3.3GW of solar tenders in 2018 alone.

Softbank in India
By Tom Kenning

Although Softbank Group is a separate entity to Softbank Vision Fund, Mahayoshi Son entered the Indian PV market amid great fanfare back in 2015 under the Softbank Group label.

The company formed a JV, named SB Energy, with Taiwan-based manufacturing services provider Foxconn Technology Group and Indian business conglomerate Bharti Enterprises.

Various reports emerged suggesting a US$20 billion investment in India, and another showed Son discussing plans for as much as 20GW of projects just in Andhra Pradesh.

While SB Energy’s role in Indian auctions has been significant, it has not been as bombastic as some of the original reports suggested. Nevertheless, in late 2015 it quickly matched what at the time was India’s lowest ever solar tariff for a 350MW project in Andhra Pradesh, a project that has now been commissioned. It also won 400MW of projects across two Rajasthan auctions in May last year, where tariffs breached three rupees per unit for the first time ever. According to consultancy firm Bridge to India, Softbank has an installed capacity of 350MW in India, with a 600MW pipeline.

On entry, Softbank was a hailed as a 'game-changer' for India's PV market, given its ability to provide complete integrated power solutions at scale, including infrastructure to cover all the well-known challenges of India’s market, such as evacuation routes and bottlenecks. It also was also backed by huge funding – the likes of which had not been seen by other Indian solar players at the time.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
7 April 2026
Dubai World Trade Centre, UAE
Intersolar Middle East and Middle East Energy are coming together to present the mega energy event for the MENA region. From April 7–9, 2026, Dubai World Trade Centre will host Intersolar Middle East Exhibition and Conference alongside the 50th Middle East Energy. Intersolar Middle East focusses on the areas of photovoltaics, PV production technologies, and energy storage systems. The combined event expects to attract more than 45,000 trade visitors from around the world and feature 1,900+ exhibitors.

Read Next

October 20, 2025
New federal policies in the US will 'cloud' the country’s renewable energy sector, according to a webinar hosted by Wood Mackenzie.
October 20, 2025
Bahrainian authorities are inviting initial proposals from developers to build a 100MW solar project in the country, due for commercial operation by September 2027.
Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK