New York, Rajab 11, 1439, Mar 28, 2018, SPA -- Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers and Minister of Defense and the Chairman of Board of Directors of the Public Investment Fund (PIF) in the Kingdom of Saudi Arabia, signed on Tuesday with Softbank Group Chairman and CEO Masayoshi Son, a memorandum of understanding (MoU) to set up "Solar Power Project 2030" to be the largest of its kind in the world in the field of solar energy. This agreement is a new framework for the development of the solar energy sector in the Kingdom of Saudi Arabia, under which a new company for solar energy will be established. Two solar plants with a capacity of 3 gigawatts and 4.2 gigawatts will be launched by 2019, and solar panels will be manufactured and developed in the Kingdom of Saudi Arabia, with a capacity of 150 Gigawatts and 200 gigawatts by 2030. --More 13:12 LOCAL TIME 10:12 GMT www.spa.gov.sa/w653111