Saudi Arabia has shelved a $200 billion plan with SoftBank Group Corp. to build the world's biggest solar-power-generation project, The Wall Street Journal reported on Sunday, citing Saudi government officials.
No one is actively working on the project, and instead, the Saudi kingdom is working up a broader, more practical strategy to boost renewable energy, to be announced in late October, the WSJ reported.
SoftBank Chief Executive Masayoshi Son had announced in March a plan to invest in creating the world's biggest solar power project in Saudi Arabia, a project expected to have the capacity to produce up to 200 gigawatts (GW) by 2030.
Softbank declined to comment.