Saudi Arabia signs major battery storage deals to boost renewable energy targets
Saudi Energy Company consortium inks four battery storage agreements totaling 2,000 MW, supporting the Kingdom’s goal of 50% renewables by 2030.
Four major battery storage agreements totaling 2,000 MW were recently signed by the Saudi Energy Company consortium, bolstering the Kingdom's ambition of achieving 50% renewable energy by 2030. Saudi Energy and Industry Minister Abdulaziz bin Salman attended the signing ceremony in Riyadh. The four projects, each with a capacity of 500 MW for a four-hour duration, are set to be constructed, owned, and operated by the consortium, which includes Saudi Energy Company, ACWA, and Al-Sharif Group for Contracting and Commercial Development.
Additionally, Engie and Haji Abdullah Alireza & Co. Ltd. secured the Al-Khushaybi project in the Qassim region. These initiatives are part of the first group of build-own-operate battery storage projects, with a combined investment of 4.35 billion riyals ($1.16 billion) under the Ministry of Energy's supervision. The projects aim to bolster renewable energy capacity, strengthen grid reliability, and solidify Saudi Arabia's position as a global energy leader.
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