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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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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