Saudi renewable energy firm Desert Technologies has signed an MoU with EnerVenue to deploy advanced stationary battery storage solutions across Saudi Arabia. The deal coincides with EnerVenue commissioning a battery manufacturing facility in Changzhou, China. The collaboration aims to support grid stability and renewable energy capacity expansion across the GCC.
A report by the World Economic Forum and Bain & Company projects artificial intelligence could unlock over $1 trillion in economic and sustainability value across MENA by 2030. The valuation encompasses sustainable finance, public investment flows, avoided asset losses, and energy-sector gains. While 89 percent of regional sustainability leaders acknowledge AI's high potential, active implementation remains limited to between 40 and 55 percent.
Saudi utility developer ACWA Power has signed a cooperation memorandum with Mongolia's Sun Step Power to assess a renewable energy venture targeting power exports to China. The initiative outlines a target generation capacity of 4.5GW alongside a 500MWh battery storage system. The agreement includes evaluating the development of wind, solar, and cross-border electricity transmission infrastructure.
Hong Kong-listed Dalipal Holdings finalized a 25-year lease for a 1,030,916-square-meter site at King Salman Energy Park in Saudi Arabia. The agreement initiates Phase 1 of an energy equipment base with approximately $600 million in committed capital expenditure toward a planned $2.1 billion total investment. The plant will produce seamless steel pipes, OCTG, and hydrogen pipelines to serve the Gulf and Middle East.
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