Last week, Huawei entered into a contract with SEPCOIII for an energy-storage project. SEPCOIII is a power plant operator and a construction and engineering companys that operates in China. The battery-energy storage project, which has been dubbed the Red Sea Project, is considered to be a major project in Saudi Arabia’s vision 2030 initiative. The project has SEPCOIII handling EPC services and playing the role of general contractor. It was developed by ACWA Power.
The country’s 2030 initiative features a smart city that will be known as Neom and will be situated on the coast of the Red Sea, in the northwestern region of Saudi Arabia. This planned smart city will be powered wholly by renewable energy. It is viewed as a major development in the nation’s efforts to expand its economy and develop tourism.
The Saudi Vision 2030 initiative will also aid in the development of other public service sectors such as recreation, infrastructure, education and health, as well as decrease its dependence on oil. The initiative’s pillars are to transform Saudi Arabia’s location into a hub that connects Afro-Eurasia, become an international investment powerhouse and make the nation the heart of the Islamic and Arab worlds.
In a statement, Chinese tech giant Huawei noted that this off-grid battery energy storage project represented a milestone in the international energy-storage industry as it is the biggest of its kind across the globe. Representatives of SEPCOIII and Huawei sealed the deal at the 2021 Global Digital Power Summit, which was held in Dubai.
Huawei Digital Power also revealed that it was combining information technology with energy storage and PV technologies in an effort to develop a more stable, safe and efficient energy-storage system through the use of modular and intelligent designs. Currently, the tech giant has 8GWh of energy-storage system applications in operation.
Earlier in June, Huawei President Chen Guoguang stated during an interview with PV Magazine that the intellectualization and digitization of the energy system was a crucial element in developing renewable energy systems. Huawei launched its new solar and storage solution at the 2021 SNEC PV Power Expo Shanghai.
The company’s aim is to promote these new technologies to contribute to energy structure reform through a renewable energy system from a traditional energy system. This is in addition to helping other countries as well as China to achieve their carbon neutrality and carbon emission targets.
This landmark contract in Saudi Arabia gives companies such as StorEn Technologies Inc. a clear picture of how much hunger exists out there for workable solutions to the long-term energy storage challenge.
NOTE TO INVESTORS: The latest news and updates relating to StorEn Technologies Inc. are available in the company’s newsroom at https://ibn.fm/StorEn
MiningNewsWire (MNW) is a specialized communications platform focused on developments and opportunities in the global resources sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled visibility, recognition and brand awareness. MNW is where news, content and information converge.
To receive SMS text alerts from MiningNewsWire, text “BigHole” to 21000 (U.S. Mobile Phones Only)
For more information, please visit https://www.miningnewswire.com
MiningNewsWire is part of the InvestorBrandNetwork.