Government procurement price of industrial energy storage in Saudi Arabia

How much is Saudi Arabia's energy storage system project worth?

The engineering, procurement and construction (EPC) contracts for the three energy storage system projects recently awarded in Saudi Arabia are estimated to be worth over $800m.

How much battery storage will Saudi Arabia be able to deploy?

According to recently reported remarks from energy minister Prince Abdulaziz bin Salman Al Saud from an event held in the Kingdom, the country is targeting the deployment of 48GWh of battery storage by the end of this decade.

How many GWh of electricity will be installed in Saudi Arabia?

According to Sungrow, each project will have a capacity of 2.6GWh, totalling 7.8GWh. The three storage projects are located in Najran, Madaya and Khamis Mushait in Saudi Arabia. Sungrow added that deliveries are expected to commence this year, and the grid connection is anticipated by 2025.

Does KSA have a storage service agreement with SPPC?

Each SPV will enter into a 15-year Storage Services Agreement with SPPC. As part of Vision 2030, KSA aims to supply 50% of its electricity from renewable energy by 2030 and has set a clear plan to transition its energy mix towards solar, wind and other renewable energy sources.

How will the new Bess procurement programme help Saudi Arabia?

The biggest share will be spent on transmission upgrades and renewable energy, with a smaller investment in the distribution network. SPPC said on Monday that the newly launched BESS procurement programme will enable Saudi Arabia to reach that 50% goal, with the current tender representing the first tranche of solicitations.

What if I win a storage services contract with SPPC?

Winning bidders will enter 15-year Storage Services contracts with SPPC for four battery storage projects, each of 500MW/2,000MWh output and storage capacity as set out in the table below. Bidders will retain 100% equity in their projects in special purpose vehicle (SPV) companies.