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Saudi Arabia's Al Gihaz Holding is preparing to launch 7.8 GWh of energy storage capacity this summer. The project will utilize batteries provided by Sungrow Power Supply Co Ltd, marking a significant step in the Kingdom's renewable energy initiatives.This development aligns with Saudi Arabia's broader strategy to enhance its energy infrastructure and reduce reliance on fossil fuels. The deployment of these batteries is expected to support the integration of renewable energy sources, contributing to the country's sustainability goals and energy transition efforts. How Will Al Gihaz Holding's 7.8 GWh Energy Storage Impact Saudi Arabia's Renewable Goals? Enhanced Grid Stability: The 7.8 GWh energy storage capacity will help stabilize the grid by balancing supply and demand, especially during peak usage times, reducing the risk of blackouts. Increased Renewable Integration: By storing excess energy generated from renewable sources like solar and wind, the project will facilitate a higher penetration of renewables into the national grid. Reduction in Fossil Fuel Dependence: The energy storage system will decrease the need for fossil fuel-based power plants to meet peak demand, aligning with Saudi Arabia's Vision 2030 to diversify its energy mix. Support for Vision 2030 Goals: This initiative supports the Kingdom's Vision 2030, which aims to increase the share of renewable energy in the national energy mix to 50% by 2030. Economic Benefits: The project could lead to cost savings by reducing the need for expensive peaker plants and lowering energy costs in the long term. Technological Advancement: The use of advanced battery technology from Sungrow Power Supply Co Ltd positions Saudi Arabia as a leader in adopting cutting-edge energy solutions in the region. Environmental Impact: By reducing reliance on fossil fuels, the project will contribute to lowering greenhouse gas emissions, supporting global climate change mitigation efforts. Job Creation: The development and maintenance of the energy storage infrastructure are expected to create new jobs, contributing to economic growth and skill development in the renewable energy sector.

SAS, has reached financial close on the 300-MW Rabigh 2 solar power project in Saudi Arabia, valued at SAR 825 million (USD 220 million). The project, structured as a

Saudi Arabia is expanding the reach of its 105 billion riyal (US$28 billion) industrial fund to spur renewables through loans to component manufacturers, to independent power projects and to projects spearheaded by firms in other industries. The new programme comes to expand the Saudi Industrial Development Fund’s work over the past 45 years, during which it has “played a key role" in driving industrial development in the kingdom, according to a government release. The new incentives are part of Saudi Vision 2030, Crown Prince Mohammad bin Salman’s plan to diversify the economy of the world’s largest oil exporter. In January, the government announced it would deploy 60GW of renewables by 2030, two-thirds of which would be solar. Under the new scheme, named for the Arabic word for renewables Mutjadeda, component manufacturers can borrow up to 75% of a project's cost from the government and benefit from loan repayment periods of up to 20 years and grace periods of up to 36 months. Independent renewable energy production projects can apply for the same repayment and grace periods. Players in other industries deploying renewables can apply for loans with repayment periods of up to 12 years and grace periods of 36 months. Bloomberg reports that loans will be for as much as 1.2 billion riyals (US$320 million). The government’s pivot to renewables comes after a drone strike on the kingdom’s Abqaiq processing facility in mid-September cut global oil output by five percent and sent oil prices skyrocketing. Saudi Arabia's new loan scheme sees the light in a year set to conclude with the second round of government renewable auctions.  A spokesperson from the Renewable Energy Project Development Office (REDPO) told PV Tech in an email that while the government agency does not currently have an exact date when auction results will be published, their announcement will take place in December and will be broadcast live.  Saudi Arabia’s solar industry is poised for rapid growth, according to an analysis by Wood Mackenzie. In July, the firm placed the Gulf state within a 20-strong cohort of global “growth [solar] engines,” countries that are expected to be installing between 1-5GW of the energy source a year by 2024.

inexpensive as well as dependable solar power remedies to C&I customers in Saudi Arabia and "blaze a trail in the advancement of the community for dispersed

has signed deals to develop, construct, and operate three solar projects in Saudi Arabia with a total capacity of 5.5 GW. The projects, named Haden, Muwayh, and Al

has secured the development rights for the 2-GW Al Sadawi solar project in Saudi Arabia. The agreement follows a successful bid during the fifth round of the National

Technology Co Ltd has achieved financial close for a 400-MW solar project in Saudi Arabia, enabling construction to commence. The Tabarjal Solar project, located 17 km

risk would certainly aid to drive and also diversify financial growth in Saudi Arabia. The deal also comes numerous months after China's Silk Road Fund completed

tandem solar cells to market, which could provide affordable clean energy in Saudi Arabia and beyond. The technology combines the efficient light absorption of

and Bahra Electric have agreed to establish a joint venture in Saudi Arabia to produce solar trackers and mounting solutions. The new company and factory will

in debt financing for the construction of three large-scale solar projects in Saudi Arabia, with a combined capacity of 4.55 GW. The projects, Ar Raas 2, Saad 2, and Al

an S&P 500 company based in Israel, is forming a joint venture with a Saudi Arabian firm, Ajlan & Bros Holding, to develop renewable energy in Riyadh. This

expected to see the conclusion of its 400-MW Dumat Al-Jandal wind farm. Saudi Arabia has established a goal of making renewables make up 50% of its energy mix by

will supply unmanned intelligent robots for a 3.5 GW solar project in Saudi Arabia, managed by Indian engineering giant Larsen & Toubro (L&T). The

financial close on its Al Shuaibah 1 and Al Shuaibah 2 solar projects in Saudi Arabia. The two projects have a combined capacity of over 2.6GW and are located in Al