Saudi Arabia signs $1.16bn battery storage deals for 2 GW

RIYADH: Saudi Arabia signed agreements for four battery energy storage projects with a combined capacity of 2,000 megawatts and four-hour storage duration, in deals worth more than SR4.35 billion ($1.16 billion). The Saudi Power Procurement Co., the Kingdom’s principal buyer, signed the storage service agreements for the projects, which are the first batch of battery energy storage system initiatives to be developed under a build-own-operate model, the Saudi Press Agency reported.

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