PIF, Softbank hold talks with EPC contractors on mega solar project

Saudi Arabia’s Public Investment Fund (PIF) and Japanese investment firm SoftBank have met engineering, procurement and construction (EPC) contractors to discuss their possible participation in a tender for projects under the first phase of $200 billion solar programme in the Kingdom, MEED reported, citing industry sources.

A few international contractors from India and Europe were invited to meet the client to express interest in the programme to build and install photovoltaic (PV) solar projects, the report said. However, there are no plans to award contracts imminently.

The first projects under the PIF/Softbank solar programme is likely to consist of six to eight PV plants, each with a capacity of 300MW, which will be located near Sudair, 200 kilometres north of Riyadh.

In March, Saudi Crown Prince Mohammed bin Salman and SoftBank CEO Masayoshi Son signed a preliminary agreement for the 200GW solar programme.

The 200 gigawatts of capacity will be spread across the country with the first two solar parks generating 7.2 gigawatts of power. The plants are scheduled to begin construction this year and start generating electricity in 2019.