[Energy Storage: Saudi Arabia signs over $1.16bn storage service agreements for 2 GW of BESS]
Saudi Arabia's Power Procurement Company has signed four storage service agreements for battery energy storage system projects totaling 2 GW of installed capacity, with each project rated at 500 MW and four hours of duration, representing a combined investment of over $1.16 billion. Three projects were awarded to a consortium of Saudi Energy, ACWA and Al Sharif, while Al Khushaybi went to a consortium of ENGIE and Haji Abdullah Alireza. All are delivered under a build-own-operate model, supporting the national target of roughly 50% renewables in the generation mix by 2030.