RIYADH- Saudi Arabia has already started implementing an agreement with SoftBank Group's Vision Fund to provide 200 gigawatts of solar power in the kingdom, energy minister Khalid al-Falih said at a post-budget event.

The kingdom's Public Investment Fund agreed to invest $45 billion in the giant tech fund led by SoftBank and the pair are working with other parties on a number of large-scale, multi-billion dollar projects relating to the solar industry.

The PIF and private sector will fund renewable energy projects in the kingdom, Falih said.

(Reporting By Marwa Rashad and Stephen Kalin; Writing by Nafisa Eltahir; Editing by Tom Arnold) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))