Saudi Arabia among world's top 10 energy storage markets
RIYADH — Saudi Arabia has achieved a leading position among the top ten global markets in the field of battery energy storage, coinciding with the launch of the Bisha Project, which has a capacity of 2000 MWh and is one of the largest energy storage projects in the Middle East and Africa.
Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. So far, 26 gigawatt-hours of storage projects have been tendered, and they are at various stages of development.
These projects play a pivotal role in supporting the expansion of renewable energy, thereby helping achieve the targets of the national energy mix. The Kingdom aims for 50 percent of total electricity production to be generated by renewables by 2030.
According to the ranking by Wood Mackenzie consultancy, which specializes in the energy sector, Saudi Arabia is at the forefront of emerging markets that are experiencing rapid growth in energy storage projects, amid expectations of the new storage capacities to further strengthen the Kingdom's position among the top ten global markets in this field over the next decade.
This growth aligns with the goals of the Saudi Vision 2030, which seeks to expand electricity production from renewable sources such as solar and wind energy. The Kingdom plans to operate 8 GWh of energy storage projects by 2025, and 22 GWh by 2026, positioning itself as the third largest global market in energy storage projects, following China and the United States, based on the storage capacities announced to date.
The recently operational Bisha battery energy storage project features 488 advanced battery containers with a storage capacity of 500 MW for a duration of four hours. The project facilitates battery charging during low-demand periods and discharging during peak times, ensuring backup power availability when necessary, improving the flexibility of electricity supply management, and promoting smart solutions for a more sustainable energy future.
The Kingdom's energy sector is undergoing a significant transformation that strengthens its leading position in the production and export of diverse energy types. By the end of 2024, the total capacity of renewable energy projects, across all stages of development, had reached 44.1 GW.
Energy storage plays a crucial role in enhancing the reliability of electricity supply, thereby improving the National Grid's capacity to deal with emergency situations and achieving strategic objectives for the advancement of the energy sector in the Kingdom.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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