ACWA plans to make solar panels as part of SoftBank, Saudi fund’s $200 billion project

Riyadh-based ACWA Power, partly owned by the Public Investment Fund of Saudi Arabia, plans to expand into solar panel manufacturing. The company is in talks to manufacture solar panels for the SoftBank-Saudi fund’s $200 billion solar power project. Last year, SoftBank had announced its plan to invest in creating the world’s biggest solar power project in Saudi Arabia, with a capacity to produce up to 200 GW by 2030. The project is expected to create thousands of jobs and develop a manufacturing industry in line with Saudi Arabia’s economic diversification plan laid out in its Vision 2030. ACWA Power also plans to double its power production capacity by 2025 and to expand its operations in 25 markets from the current 12.

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