Saudi Arabia invests in energy storage

The Saudi Power Purchase Company today, Thursday, signed four agreements for energy storage using battery technology, with a total capacity of 2,000 megawatts for 4 hours, involving investments of over 4.35 billion riyals (approximately $1.16 billion). The projects aim to increase the share of renewable energy and storage within the electricity mix to reach 50% by 2030, while also enhancing the reliability and efficiency of Saudi Arabia's electrical system. The company is responsible for preparing preliminary studies and signing purchase and energy storage service agreements as part of its efforts to develop its infrastructure and strengthen its global position in modern energy solutions.

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