From attached solar panels unlimited solar energy could be beamed back to the planet using advanced radio technology
Saudi Arabia is backing a British firm developing a plan to beam unlimited solar power from space down to Earth.
Saudi Arabia officials met with UK Business Secretary Grant Shapps last week to discuss ambitious plans for collaboration in space and innovation, including the potential to invest in the development of space based solar power.
Now $500m Saudi megaproject has stepped forward to help fund the project being developed by the UK’s Space Solar Ltd.
Saudi backs solar power in space
According to a report by the Times newspaper, NEOM and the UK government have teamed up to invest $4.3m (£3.5m) to develop the project.
The initial funding is to further develop the science and feasibility of the project.
Any successful project would require an investment of tens of billions of dollars and not be completed before 2040 according to consultants Frazer-Nash.
The hi-tech futuristic plans are being developed by Space Solar and could see solar energy collected using a very large satellite in orbit above planet Earth.
From attached solar panels unlimited solar energy could be beamed back to the planet using advanced radio technology.
NEOM is exploring the possibility of using solar power from space to supply carbon free energy for its projects.
Its main advantages over wind and terrestrial solar energy are the ability to deliver clean energy, day and night, throughout the year, and through all weather conditions.
Interest in the technology has grown in recent years as costs fall rapidly.