The corresponding memorandum of intent was signed in New York by Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud and Softbank CEO Masayoshi Son. The Prince has arrived in the United States with a three-week official visit, the channel said.
The planned capacity of the enterprise is several times greater than that of any existing solar power plant. For comparison, the peak power of the California-based Topaz Solar Farm, one of the largest power plants of this kind, is about 550 MW.
According to Bloomberg, the construction of such a large facility will require an investment of $200 billion.