China-based solar inverter supplier Sungrow announced on Tuesday that it has signed a memorandum of understanding (MoU) with ACWA Power, the Saudi-based global developer and operator of power and water plants, to supply an energy storage system for the NEOM giga project.

Sungrow said in a press statement that it will provide a 536 megawatt/600 megawatt-hour energy storage system for NEOM.

ACWA Power is part of a joint venture building the world’s largest utility scale, commercially based green hydrogen facility in NEOM, which will be powered by around 4 gigawatts of renewable power from onshore solar, wind and storage.

The Sungrow statement said the two companies also signed a strategic cooperation agreement to promote close cooperation between China and Saudi Arabia in the renewable energy industry and contribute to the Belt and Road initiative, as well as Saudi Vision 2030.

Sungrow said it has supplied solar inverters for several solar PV projects in the Gulf including the 1.6 GW Sudair project in Saudi Arabia, the 800MW [Al-Kharsaah] project in Qatar, a 900MW project [Phase 5 of the Mohammed bin Rashid Al Maktoum Solar Park] in Dubai, and 1.5GW PV solar project in Abu Dhabi.

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)