Saudi Arabia Invests in Battery Storage as Renewable Energy Grows
Saudi Arabia is investing in 'stored energy' through independent battery energy storage projects. The Saudi Power Procurement Company signed four agreements for a total capacity of 2,000 megawatts for four hours and investments exceeding 4.35 billion riyals ($1.16 billion).
The agreements were signed with consortia comprising Saudi Energy Company, ACWA Power, Al Sharif Contracting and Commercial Development, ENGIE, and Alhaj Abdullah Ali Reda & Co. Ltd. The projects are part of the first group of energy storage projects being developed under a build, own and operate model.
Dr. Mohammed Al-Sabban, a former senior adviser to the Saudi oil minister, said that battery energy storage is a key driver in strengthening the role of renewable energy sources within Saudi Arabia's electricity generation system.