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The Saudi government’s Public Investment Fund (PIF) is scaling back its world-beating plan for a major investment in the solar power industry, although the size of the program still appears massive – certainly compared to the country’s miniscule current installed solar capacity.
The official Saudi Press Agency (SPA) issued a 1 October report ostensibly to refute a 30 September Wall Street Journal article citing Saudi officials and a Saudi government advisor which claimed no-one is actively working on the project. They reportedly said that instead Riyadh is working up a broader, more practical strategy, which would be announced in late October.
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