EXECUTIVE SUMMARY 

China-based battery manufacturer, CORNEX New Enrergy Co.Ltd., has entered into a strategic cooperation agreement to deliver 5.5 GWh of energy storage products in Saudi Arabia. The collaboration was formalized with Saudi-based Al Rajhi Electrical and Dammam-based GREENGRID, a supply chain and logistics services provider in Saudi Arabia.

Under the agreement, CORNEX will supply a 5.5 GWh of energy storage products to Al Rajhi Electrical over the next three-years. Al Rajhi Electrical acts as the local partner for project delivery and market access.

CORNEX will apply its R&D and manufacturing capabilities to provide technical support for local factory construction in Saudi Arabia. This scope aligns with national industrial development programs that promote local content and domestic manufacturing across the energy and power sectors.

GREENGRID supports the framework through supply chain and logistics services for the energy storage projects covered under the agreement. Its role includes procurement coordination, transportation management, and delivery scheduling to support defined project timelines and operational planning. The participation of a local supply chain partner is intended to improve coordination between equipment suppliers, contractors, and project sites.

The agreement reflects the increasing consideration of battery energy storage systems within Saudi Arabia’s power sector planning. Energy storage is being assessed for grid stability support, peak load management, and integration of variable generation resources. Utility-scale battery installations are being evaluated as supporting infrastructure to improve operational flexibility across the electricity network.

The partnership establishes a long-term cooperation framework covering equipment supply, technical support, and supply chain coordination, supporting the execution of energy storage projects across Saudi Arabia over the agreed period.