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BRIEF-Saudi Electricity says PIF, SBVF sign MoU on 2030 solar power plan
October 24, 2017 / 9:10 AM / a month ago

BRIEF-Saudi Electricity says PIF, SBVF sign MoU on 2030 solar power plan

Oct 24 (Reuters) - SAUDI ELECTRICITY COMPANY

* ANNOUNCES SIGNING OF MOU BETWEEN PUBLIC INVESTMENT FUND (PIF) AND SOFTBANK VISION FUND (SBVF) ON NEW SOLAR POWER PLAN FOR 2030

* AS PART OF MOU PIF AND SOFT BANK VISION FUND TO DEVELOP 3 GIGAWATT SOLAR POWER IN 2018 THROUGH SAUDI ELECTRICITY CO

* PUBLIC INVESTMENT FUND AND SOFTBANK VISION FUND WILL ESTABLISH SOLAR POWER PRODUCTION AND STORAGE UTILITIES

* SAUDI GOVERNMENT TO RETAIN CONTROLLING STAKE IN CO, PARTIES TO EVALUATE SOFTBANK VISION FUND OWNING LARGE STAKE IN COMPANY

* ALL PARTIES TO COMPLETE REQUIRED STUDIES BY FEBRUARY 28, 2018 Source text for Eikon: Further company coverage:

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