ACWA Power signs 1.5 GW Saudi battery storage agreements
Type: Ppa · Technology: Storage · Country: Saudi Arabia · Capacity: 1.5 GW · Announced: 2026-08-24
ACWA Power has signed three 15-year storage services agreements with the Saudi Power Procurement Company for battery projects totaling 1.5 GW / 6 GWh. The Haden, Muwayh, and AlKahfah projects will each have a capacity of 500 MW / 2,000 MWh, providing four hours of storage at full output. Haden and Muwayh will be developed in western Saudi Arabia, while AlKahfah will be located in the north. The Saudi Power Procurement Company conducted the tender and will procure storage capacity as a standalone service, highlighting the growing importance of energy storage systems in the Kingdom's power development.
Analysis
ACWA Power has signed three 15-year storage services agreements with the Saudi Power Procurement Company for battery projects totaling 1.5 GW / 6 GWh. ACWA Power manages a portfolio of 80 projects with a total investment value of $85.3 billion. The Haden, Muwayh, and AlKahfah projects will each have a capacity of 500 MW / 2,000 MWh, providing four hours of storage at full output. Haden and Muwayh will be developed in western Saudi Arabia, while AlKahfah will be located in the north.
Key points
- ACWA Power signed three 15-year storage services agreements.
- Agreements are for battery projects totaling 1.5 GW / 6 GWh.
- Haden, Muwayh, and AlKahfah projects will each have 500 MW / 2,000 MWh capacity.
- Haden and Muwayh will be developed in western Saudi Arabia.
- AlKahfah will be located in northern Saudi Arabia.
Counterparties
- ACWA Power (Developer)
- Saudi Power Procurement Company (Offtaker)
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