Hai Chen Energy Storage signed a cooperation agreement on energy storage projects with the Saudi Electricity Company and the Alfanar Group.

On August 26, Haichen Energy Storage announced that the company has signed a major energy storage project cooperation agreement with Saudi Electricity Company and Saudi utility giant Alfana Group, and will build two large-scale energy storage projects in Tabuk Province and Hail Province in northern Saudi Arabia, with a total capacity of 1GW/4GWh. The Saudi project will use Haichen Energy Storage's independently developed Cell 1175Ah kilo-ampere hour long-duration energy storage dedicated battery and Power 6.25MWh Desert Eagle system solution. The project is scheduled to be operational in 2026.