Saudi Power Procurement signs four BESS agreements worth $1.16bn

M&A · Partnership
โดย Power Technology·SA·Read original
Summary · why it matters

Saudi Power Procurement Company has signed four storage service agreements for battery energy storage system projects worth more than $1.16 billion. The projects will provide a total capacity of 2 gigawatts with four-hour storage, forming the first group under Saudi Arabia's strategy to enhance electricity generation reliability and efficiency. Three projects in the Makkah and Hail regions, each delivering 500 megawatts, were assigned to a consortium of Saudi Energy, ACWA, and Al Sharif Contracting and Commercial Development Company. The fourth project in the Qassim region, also 500 megawatts, was awarded to a consortium of ENGIE and Haji Abdullah Alireza. The agreements were signed in the presence of Energy Minister Abdulaziz bin Salman bin Abdulaziz, and the Ministry of Energy is supervising the initiative.

Impact on stocks 1

Utilities▲ · 1 stocks
Engie S.A.
ENGI
▲ PositiveDemandrelevance

ENGIE consortium awarded a 500MW BESS project in Qassim region.

Theme Impact 1

Off-coverage companies 4

Saudi Power Procurement CompanyPrivate▲ Positive
Demandrelevance

Company signs four BESS agreements worth $1.16bn for 2GW capacity.

ACWA PowerPrivate▲ Positive
Demandrelevance

ACWA consortium awarded three 500MW BESS projects in Makkah and Hail.

Al Sharif Contracting and Commercial Development CompanyPrivate▲ Positive
Demandrelevance

Al Sharif part of consortium awarded three 500MW BESS projects.

Haji Abdullah Alireza & Co.Private▲ Positive
Demandrelevance

Haji Abdullah Alireza part of consortium awarded 500MW BESS project in Qassim.

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