Latest news with #Bisha
Argaam
18-02-2025
- Business
- Argaam
Saudi Cabinet commends opening of 600 global company headquarters
The Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, praised the establishment of 600 global company headquarters in the Kingdom during its session held today, Feb. 18, in Riyadh. This milestone underscores the stability of the Saudi economy, growing international confidence, promising expansion opportunities, a highly skilled workforce, and the Kingdom's strategic location. The Cabinet also welcomed Saudi Arabia's hosting of discussions between the Russian Federation and the United States, reaffirming the Kingdom's commitment to promoting global security and peace, according to the Saudi Press Agency (SPA). Additionally, the Cabinet highlighted Saudi Arabia's recognition among the world's top 10 markets for battery energy storage, coinciding with the launch of the 2,000 MWh Bisha project. This milestone marks a major transformation in the energy sector, reinforcing the Kingdom's leadership in energy production and exports.
CairoScene
16-02-2025
- Business
- CairoScene
Saudi Arabia Ranked Amongst Top 10 Global Energy Storage Markets
The Kingdom targets 48 GWh storage by 2030, with 26 GWh in progress, led by the Bisha Project. Saudi Arabia has entered the global top 10 energy storage markets, driven by the launch of the 2000 MWh Bisha battery project, the largest of its kind in the Middle East and Africa. The project, equipped with 488 battery containers and a 500 MW capacity for four hours, supports grid stability by storing excess power during off-peak hours and releasing it during high demand. Under the National Renewable Energy Program, the Ministry of Energy targets 48 GWh of storage capacity by 2030, with 26 GWh already tendered and under development. The Kingdom plans 8 GWh of capacity by 2025, rising to 22 GWh by 2026, which would make it the world's third-largest energy storage market after China and the US. Wood Mackenzie consultancy identifies Saudi Arabia as a key emerging player in energy storage growth. The expansion aligns with Saudi Vision 2030, which aims to generate 50% of electricity from renewable sources by 2030. As of late 2024, the Kingdom's total renewable capacity across all project stages reached 44.1 GW. The rise in energy storage capacity is seen as crucial for grid reliability, reducing outages, and supporting the shift to renewables.
Leaders
14-02-2025
- Business
- Leaders
Saudi Arabia Ranks Top 10 in Energy Storage, Leads in Renewables
Saudi Arabia has secured a prominent position among the world's top ten markets in battery energy storage, coinciding with the launch of the Bisha project. The project has a capacity of 2,000 megawatt-hours 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 48 gigawatt-hours by 2030. So far, 26 gigawatt-hours of storage projects have been tendered and are at various stages of development. These projects play a pivotal role in supporting the expansion of renewable energy, reinforcing the Kingdom's energy mix targets. Saudi Arabia aims for renewable energy to account for 50% of total electricity production by 2030. According to the classification by Wood Mackenzie, a consultancy specializing in the energy sector, Saudi Arabia is at the forefront of emerging markets experiencing rapid growth in energy storage projects. The addition of new storage capacities over the next decade is expected to strengthen its position among the world's top ten markets in this field. This growth aligns with the ambitious goals of Saudi Vision 2030, as energy storage plays a crucial role in supporting the expansion of electricity generation from renewable sources such as solar and wind energy. Saudi Arabia aims to operate 8 gigawatt-hours of energy storage projects by 2025 and 22 gigawatt-hours by 2026, making it the third-largest global market for energy storage projects, following China and the United States, based on announced storage capacities to date. In this context, the Bisha Battery Energy Storage Project has been launched, featuring 488 advanced battery containers with a storage capacity of 500 megawatts for four hours. The project enables battery charging during periods of low demand and discharging during peak hours, ensuring the availability of backup power when needed. This enhances the flexibility of electricity supply management and supports the deployment of smart solutions for a more sustainable energy future. Saudi Arabia's energy sector is undergoing a qualitative transformation, reinforcing its leadership in the production and export of various energy types. The total production capacity of renewable energy projects reached 44.1 gigawatts by the end of 2024, distributed across different stages of production. Finally, energy storage contributes to improving the reliability of electricity supply, enhancing the national grid's ability to adapt to emergencies, and supporting the strategic goals of developing the energy sector in the Kingdom. Related Topics : Minister of Energy Honors Mawhiba Students for Energy Hackathon Competitions Saudi Arabia Joins International Partnership for Hydrogen and Fuel Cell Economy KSGAAL Launches Arabic Immersion Program to Empower Global Learners Saudi Arabia Boosts Renewable Energy Investments in 2024 Short link : Post Views: 19
