Under the supervision of the Ministry of Energy, the Saudi Electricity Company (SEC) has announced the launch of the second phase of its battery energy storage system (BESS) project, with a total investment exceeding 6. 73 billion Saudi Riyals and a planned total capacity of 2.
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.
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How much will Saudi Arabia spend on energy projects in 2021?
Speaking in 2021, the Saudi government expects to spend $293 billion on power and energy projects by then. The biggest share of this revenue is expected to be spent on transmission upgrades and renewable energy. The implementation of the world's largest battery energy system (BESS) project progresses as Saudi Arabia begins qualification tenders.
What is Saudi Arabia's battery storage program?
The projects mark the first phase of Saudi Arabia's ambitious battery storage program. It is designed to support its 50% renewable energy goal by 2030. Each 500 MW facility will operate for four hours, providing 2,000 MWh of total power capacity, said the SPPC.
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.
The Saudi Power Procurement Company (SPPC) has released a list of 33 prequalified bidders for its 8GWh BESS project. The projects mark the first phase of Saudi Arabia's ambitious battery storage program. It is designed to support its 50% renewable energy goal by 2030.