Cornex secures 11.5 GWh of battery orders from Saudi Arabia, Egypt

Cornex New Energy's securing of 11.5 GWh in battery orders from Saudi Arabia and Egypt represents a significant step in the regional energy transition. The agreements with Al Rajhi Electrical (5.5 GWh) and WeaCan/Kemet (6 GWh) are geared towards accelerating the localization of energy storage systems, indicating a strategic push by these Middle Eastern and North African nations to bolster their energy independence and integrate renewable energy sources. This deal underscores the growing demand for energy storage solutions in the region and positions Cornex as a key player in meeting this demand. The scale of the 11.5 GWh order is notable, reflecting the ambitious energy transition plans of Saudi Arabia and Egypt. The involvement of Al Rajhi Electrical, a Saudi-based entity, and WeaCan/Kemet in Egypt, suggests a focus on establishing local energy storage capabilities. This deal is likely to have positive implications for the energy storage market, potentially attracting further investment and competition. The deal also highlights the increasing role of Chinese companies like Cornex in supplying critical components for global energy infrastructure projects.