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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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Stelios Bi-Communal Awards To Award €500,000 Across 39 Teams In Cyprus

The annual Stelios Bi-Communal Awards, a hallmark of cross-community collaboration in Cyprus, will once again celebrate the innovative joint ventures between Greek Cypriot and Turkish Cypriot entrepreneurs. The ceremony, scheduled for June 8 in Nicosia, underscores the vital role of business co-operation in fostering both economic growth and peaceful coexistence on the island.

Strengthening The Fabric Of Bi-Communal Collaboration

This year marks the 16th consecutive edition of the awards, which have contributed to creating business partnerships across the island. Organizers confirmed that 39 bi-communal teams, representing 78 entrepreneurs, will participate. According to the official announcement, Nikos Christodoulides is expected to attend the ceremony, adding institutional presence to the event.

Catalysing Innovation And Economic Opportunity

Teams are evaluated based on collaboration, innovation and business potential. The prize structure includes a Gold Award of €150,000, shared equally between partners. Two teams will receive Silver Awards totaling €200,000, while six teams will share €150,000 under the Bronze category. This structure distributes funding across multiple ventures at different stages of development.

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A Legacy Of Partnership And Investment

Since its launch, the programme has distributed more than €5.3 million in prize funding. Support comes from Stelios Haji-Ioannou, founder of the easy family of brands and chairman of the Stelios Philanthropic Foundation. The initiative continues to focus on supporting joint ventures between Greek Cypriot and Turkish Cypriot entrepreneurs.

The Road Ahead

The upcoming ceremony, set to be held at the Stelios Philanthropic Foundation headquarters at 5 Markou Drakou Street in Nicosia at 11:00 a.m. on Monday, June 8, 2026, promises to be a landmark event. It will gather entrepreneurs and senior officials in a celebration of bi-communal success, reaffirming the potential of entrepreneurship to bridge divides and drive sustainable growth in Cyprus.