Signal · Supplier & Corporate Risk
Saudi Energy: Battery storage deals valued at SAR 3.3B
What the source reported
Source-reported<p><img src="https://argaamplus.s3.amazonaws.com/af27148f-7d25-45ea-9cd1-2d6b05f43be0.png" ></p> <p class="ckeCaption" >Logo ofSaudi Energy Company</p> <hr> <div ><a data-auth="NotApplicable" data-linkindex="0" href="https://eur04.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.argaam.com%2Fen%2Ftadawul%2Ftasi%2Fsaudi-energydata=05%7C02%7Cpublish%40argaam.com%7Ca8ece2c475344acf2a2f08df00e68c2e%7Caabd51e45209449f92007785987beded%7C0%7C0%7C639230662333993974%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7Csdata=ofcR03F%2BhduvtFmaFlKXGDvesyobU3L6oI89%2FYO88qQ%3Dreserved=0" originalsrc="https://www.argaam.com/en/tadawul/tasi/saudi-energy" rel="noopener noreferrer" target="_blank" title="Original URL: https://www.argaam.com/en/tadawul/tasi/saudi-energy. Click or tap if you trust this link.">Saudi Energy Company</a> said the value of agreements for three battery energy storage projects, Haden, Al-Kahfah and Al- Muwayh, signed with <a href="https://www.argaam.com/en/tadawul/tasi/principal-buyer" target="_blank">Saudi Power Procurement Co.</a> totals SAR 3.25 billion.</div> <div ></div> <div> <p >The company said in separate statements on <strong>Tadawul </strong>that it holds a 35.1% stake in each project, with the agreements running for 15 years from the commercial operation date.</p> <p ></p> <p >The three agreements cover the Haden, Al-Kahfah and Al-Muwayh projects, respectively, and include the development, financing, construction, ownership and operation of standalone battery energy storage projects, as well as their connection to the grid substations. The Haden project also includes the development, financing and construction of a 380 KV substation and its connection to the grid, with the agreements valued at SAR 1.08 billion, SAR 1.11 billion and SAR 1.06 billion, respectively.</p> <p ></p> <p >The financial impact of the three projects will be disclosed upon financial close, the statement noted, adding that ACWA Power is a related party to the agreements.</p> <p ></p> <p >According to <span ><strong>Argaam</strong></span> data, Saudi Power Procurement Co. recently announced the signing of four agreements for battery energy storage projects.</p> <p ></p> <p >The first group of battery energy storage projects includes Al-Muwayh and Haden in the Makkah region and Al-Kahfa in the Hail region. Each project has a 500 MW capacity for four hours, and the agreements for the three projects were signed with a consortium comprising Saudi Energy Co., ACWA Power Co., and Al Sharif Contracting Co.</p> </div>
- Publication
- Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements
- Published
- 23rd August 2026
- Original report
- argaam.com
ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.
What ProcIntel recorded
ProcIntel-derived- Category
- Supplier & Corporate Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- None identified
- Collected
- 23rd August 2026 · 14:21
Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Initial Significance Moderate (31.0/100). Strongest contributor: Procurement Impact (21.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (29.5/100, data sufficiency: Partial). Strongest contributor: Source Authority (12.0/40 points). Limiting factor: Corroboration (2.5/25 points).
- Strongest contributor
- Procurement Impact
- Limiting factor
- Geographic Breadth