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Saudi Arabia Rises to Global Top 10 in Energy Storage, Eyes 48 GWh Capacity by 2030

by THEFUTURE.TEAM

February 17, 2025

Saudi Arabia has secured a spot among the top 10 global markets for energy storage, reinforcing its leadership in renewable energy expansion. The milestone comes alongside the launch of the Bisha Project, a 2,000 MWh battery energy storage system—one of the largest in the Middle East and Africa. The Kingdom, through its National Renewable Energy Program, is targeting a total storage capacity of 48 gigawatt-hours (GWh) by 2030, with 26 GWh already tendered and progressing through various development stages.

Accelerating The Renewable Energy Transition

These projects are critical in driving Saudi Arabia’s ambitious renewable energy targets, which include generating 50% of the country’s electricity from clean sources by 2030. The Kingdom’s commitment to energy storage strengthens grid stability, ensuring a reliable power supply and optimizing the integration of solar and wind energy into the national energy mix.

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Saudi Arabia’s Position In The Global Market

According to energy consultancy Wood Mackenzie, Saudi Arabia is at the forefront of rapidly expanding energy storage markets. The Kingdom plans to operate 8 GWh of storage capacity by 2025 and 22 GWh by 2026, positioning itself as the world’s third-largest market in this sector, trailing only China and the United States.

Bisha Battery Energy Storage Project

The recently launched Bisha battery energy storage project features 488 advanced battery containers with a 500 MW capacity, capable of storing power for up to four hours. The system enables charging during low-demand periods and discharging at peak times, bolstering grid resilience and ensuring backup power availability. This advancement not only enhances electricity supply management but also supports the Kingdom’s broader sustainability initiatives.

Energy Sector Transformation In Saudi Arabia

Saudi Arabia’s energy sector is undergoing a significant transformation, further cementing its role as a leader in energy production and export. By the end of 2024, total renewable energy capacity across all development stages is expected to reach 44.1 GW.

Energy storage is set to play a pivotal role in this shift, enhancing grid reliability and supporting the national electricity network in managing emergency scenarios. These advancements align seamlessly with Saudi Vision 2030, the Kingdom’s blueprint for economic diversification and sustainability, positioning Saudi Arabia as a global powerhouse in the clean energy revolution.

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Bank Of Cyprus Empowers Hotel Sector With Strategic Rewards Initiative

Bank of Cyprus launched a rewards program offering five times points on hotel stays paid directly with its cards between April 6 and June 30, 2026. The initiative targets domestic tourism and supports the hospitality sector during a period of weaker regional demand.

Strategic Response To Regional Uncertainties

The program was introduced as tourism flows are affected by regional tensions in the Middle East. Bank of Cyprus is positioning the offer to support local hotels and maintain activity in the sector. Tourism remains a key contributor to Cyprus’ economy, making demand support measures relevant for short-term stability.

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Enhanced Rewards For Loyal Customers

Under the new program, BoC cardholders are invited to earn five times the reward points on all qualifying hotel stays. The promotion is valid for all accommodation payments made directly at the hotel using a Bank of Cyprus card between April 6, 2026 and June 30, 2026. To be eligible, payments must be made directly during check-in or check-out, bypassing third-party platforms.

Boosting Domestic Tourism And Economic Resilience

Irene Gregoriou, Chief of Consumer Banking at Bank of Cyprus, said the initiative aims to support both customers and the hospitality industry. The program links consumer incentives with increased activity in local businesses. Domestic tourism is expected to play a larger role as international demand fluctuates. Targeted promotions may help offset part of the decline in external arrivals.

Further Information And Participating Hotels

A list of participating hotels is available through the bank’s official channels. Customers can review eligible properties and program details online. Participation conditions and reward structures are defined within the promotion terms.