Energy

Saudi Arabia’s solar energy storage market is experiencing rapid expansion, with its value reaching USD 160.43 million in 2024 and projected to climb to USD 728.01 million by 2033, according to the IMARC Group. This robust growth, marked by a forecasted annual rate of 17.10% from 2025 to 2033, is fueled by significant government initiatives, increased investment in renewables, and...

India and Saudi Arabia Explore Undersea Electricity Grid Connection India and Saudi Arabia are exploring a major project to connect their electricity grids through undersea cables beneath the Arabian Sea, according to the Times of India. This initiative could enable India to export green energy and supports Prime Minister Narendra Modi’s vision for a global renewable energy grid under the...

Saudi Electricity Company (SEC) has received bids from major utility companies to build a 380kV substation in Mawqaq, central Saudi Arabia, and to undertake several Overhead Transmission Line (OHTL) projects. This substation, called Mawqaq PV 380kV BSP, is part of Saudi Arabia’s expanding Renewable Energy Projects, according to SEC. Trading & Development Partnership (TDP) submitted the lowest offer for the...

Saudi Aramco Technologies Company (SATC) and BYD have entered into a joint development agreement to advance new energy vehicle technologies, according to a company statement. The collaboration seeks to leverage the strengths of both organizations to create solutions that enhance efficiency and reduce environmental impact. His Excellency Ali A. Al-Meshari, Aramco's Senior Vice President of Technology Oversight and Coordination, emphasized...

China and Saudi Arabia have agreed to boost cooperation in nuclear safety, signing a Memorandum of Understanding on nuclear energy development, safety, and security during the first China-GCC Forum on the Peaceful Use of Nuclear Technology in Chengdu, according to the China Atomic Energy Authority (CAEA). The agreement aims to enhance collaboration in nuclear safety, security, non-proliferation, and emergency response....

VivoPower International PLC has announced that its subsidiary, Tembo e-LV, has entered into a major distribution agreement with Green Watt, a leading Saudi Arabian energy and environmental solutions provider. According to Globe Newswire, the deal is valued at up to $85 million and will see Green Watt sell and distribute 1,600 Tembo electric utility vehicles (EUVs) in the Kingdom of...

Shanghai Electric has joined forces with Masdar, the Abu Dhabi-based renewable energy company, to develop the Al Sadawi Solar Photovoltaic Project in Saudi Arabia. This initiative is part of the Kingdom’s National Renewable Energy Programme, Round 5, which aims to diversify Saudi Arabia’s energy sources and increase its renewable capacity, according to Shanghai Electric. The Al Sadawi project, located in...

Saudi Arabia’s stock market experienced modest growth this week, led by gains in major companies and strengthened energy partnerships. The Tadawul All Share Index edged up 0.04% to close at 11,597.35 points, according to the Associated Press. Red Sea International’s shares surged nearly 10%, while Allied Cooperative Insurance also performed strongly. In contrast, Riyad Bank recorded a 5.29% drop. A...

The United States and Saudi Arabia are preparing to sign a preliminary deal to collaborate on developing a civil nuclear program, according to US Energy Secretary Chris Wright. Speaking in Riyadh after meeting with His Royal Highness Prince Abdulaziz bin Salman, Saudi Minister of Energy, Secretary Wright emphasized that both nations are working towards a partnership that aligns with their...

A recent high-level visit signals a new chapter in relations between the two countries, emphasizing innovation, sustainable growth, and impactful joint ventures. Key discussions are set to revolve around renewable energy partnerships and the exchange of industrial expertise. According to official data, bilateral trade surpassed $6 billion in 2023. Strategic cooperation will expand into vital sectors, including pharmaceuticals, food production,...