06:02 AM EDT, 08/23/2026 (MT Newswires) -- Saudi Energy Co. (SASE:5110) secured a storage services contract worth 1.11 billion Saudi riyals from the Saudi Power Procurement Co, according to a Sunday release. The Saudi Arabian electricity supplier's 15-year agreement covers the Hail province-based Kahafah Battery Energy Storage System Independent Storage project's development, funding, construction, ownership, and operations. The company added that it has a 35.1% stake in the project, which has a power capacity of 500 megawatts and an energy capacity of 2,000 megawatt-hours.

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