Plans to establish the world’s largest solar energy project have been shelved, according to the Wall Street Journal. Saudi Arabia is instead said to be working on a new, “more practical” renewable energy strategy.
While news of Japan’s SoftBank announcing up to USD 60-100 billion investment in India’s solar PV power generation is creating ripples across the industry circles, industry analysts feel that the committment sounds unrealistic in view of India’s current PV market status and future needs.
GCL System Integration Technology (GCL-Si) has revealed tentative plans to buy an unspecified state-linked semiconductor manufacturer, with Chinese media reports suggesting that the Shenzhen-listed PV module supplier may leave the solar cell and module business to exclusively focus on producing wafers for the semiconductor industry.
China’s GCL-Poly Energy Holdings has agreed to lend US$110 million to GNE Development, a wholly owned unit of the group.
The Asian companies will form a joint venture in India to execute the plan. The project’s total investment is expected to be around US$930 million, which will be used for the production of solar PV ingots, wafers, cells, modules and batteries.
A memorandum of understanding (MOU) has been signed between the Crown Prince of Saudi Arabia and Japan-based SoftBank founder Masayoshi Son, to establish the world’s largest solar PV energy project by 2030. How likely it is to materialize, and what will be done with the power, if it is realized, however, remains to be seen. Of more interest, says BNEF, is the first 7.2 GW phase.
SB Energy, a subsidiary of Japanese telecoms group SoftBank, has revealed plans to build a 102.3 MW solar project in northern Japan, backed by 27 MWh of lithium ion storage capacity.
The Saudi Electricity Company has signed a Memorandum of Understanding with the Public Investment Fund and Softbank Vision Fund to create 3 GW of solar and storage capacity in the Kingdom in 2018.
SB Energy has started building a 22.4 MW solar array in Miyazaki prefecture, southern Japan.
SB Energy — the renewables development arm of Japanese telecoms giant SoftBank — has switched on a 32.3 MW solar array in Yusui, Kagoshima prefecture.
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