Saudi Arabia will soon unveil a new solar project that will produce energy at the lowest cost yet, the Kingdom\u2019s Energy Minister Prince Abdulaziz said Thursday.\r\nPrince Abdulaziz was speaking during a virtual conference convened by Saudi Arabia\u2019s Future Investment Initiative Institute (FII-I). The conference set out to discuss how to put sustainability and green strategies at the heart of the recovery from the coronavirus pandemic, which is causing the greatest recession the world has seen\u00a0in nearly a century.\r\n\r\n\r\n\r\n\r\n\u201cWe are putting our money where our mouth is, we will be very soon announcing a project on solar that will take the lead in terms of probably the lowest, if not the lowest, cost per kilowatt of electricity. We will be announcing it very soon,\u201d he said.\r\n\r\nMitigating the virus fallout\r\nPrince Abdulaziz noted that the damage caused by the virus was more human than economic, with the human loss of education, healthcare and education causing significant harm to lives. However, plans are underway to maintain sustainability despite the coronavirus, he said.\r\n\u201cWhile mitigating the impact of the virus itself we are still adhering to our sustainability objectives and growth \u2026 albeit with this massive challenge we all have to attend to,\u201d the minister explained.\r\n\u201cIt is challenging to move away from our agenda as we had it before \u2026 We are in the process of mitigating and we are living with that mitigation,\u201d he added.\r\nSaudi Arabia is one of the biggest producers of hydrocarbons in the world, with oil giant Saudi Aramco pumping more oil than other any producer. As such, decisions taken in the Kingdom are of particular importance for the green agenda, the Prince said.\r\n\u201cI believe our energy agenda with Saudi Arabia is of paramount importance,\u201d he added.\r\nThe Kingdom has already made several steps towards its green agenda, such as an investment by Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF), in ACWA Power for\u00a0renewable energy development.\r\nThe conference, brought together under the theme \u201cDon\u2019t Forget Our Planet!,\u201d covers topics including what lessons have been learned to protect nature, sustainable energy solutions for the private and public sectors, and how to view ecology through the lens of profitability.\r\nOther participants in the conference include Yassir al-Rumayyan, Governor of the PIF and Chairman of Saudi Aramco, Mukesh Ambani, Chairman of India\u2019s Reliance Industries, Jane Goodall, founder of the Jane Goodall Institute, and Patrick Pouyanne, Chairman and Chief Executive of energy firm Total SA in France.\r\nThe conference is being held Thursday between 6 p.m. to 10 p.m. Riyadh time. Al Arabiya English is\u00a0streaming the conference\u00a0on YouTube and Twitter.\r\nIn October 2019, more than 6,000 executives and participants\u00a0attended the third Future Investment Initiative\u00a0in Saudi Arabia\u2019s capital, Riyadh.