Image：Cornex
Chinese battery manufacturer Cornex New Energy has signed a strategic cooperation agreement to supply 5.5 GWh of energy storage products to Saudi Arabia-based Al Rajhi Electrical, in partnership with Shanghai Greengrid. The agreement was signed on February 3 during a ceremony held in Dammam, Saudi Arabia.
Under the agreement, Cornex will supply 5.5 GWh of lithium battery energy storage products over the next three years. The company will also provide technical support to assist with the establishment of localized energy storage manufacturing facilities in Saudi Arabia. Al Rajhi Electrical is Cornex’s first Chinese strategic partner in the Saudi energy storage sector.
Shanghai Greengrid will serve as the strategic coordination platform for the tripartite partnership, supporting the entire project lifecycle. Its role will cover supply chain integration, cross-border coordination, and localized project implementation, ensuring efficient execution from product delivery to on-the-ground deployment.
The collaboration aims to accelerate the localization of energy storage systems in Saudi Arabia and support the broader transformation of the region’s energy structure, in line with the country’s growing renewable energy ambitions.
Al Rajhi Electrical is a wholly owned subsidiary of the Saudi diversified conglomerate Al Rajhi Group and a major shareholder in ACWA Power. The company brings strong financial backing and extensive local operational capabilities to the partnership. Shanghai Greengrid specializes in smart grids and new energy industries, leveraging its expertise in digital supply chain management and international project execution to support overseas manufacturing expansion.
Cornex said the agreement represents a key milestone in its Middle East expansion, highlighting the company’s technological strength and product competitiveness in the regional energy storage market.
The Saudi deal follows another major agreement signed on January 16, when Cornex entered into a strategic cooperation partnership with Egyptian companies WeaCan and Kemet. Under that agreement, Cornex will supply 6 GWh of energy storage products for deployment within Egypt’s power system. WeaCan will be responsible for government approvals, grid connections, and localized operations, while Kemet will provide local project execution and technical support.
The Egypt collaboration supports large-scale energy storage deployment and reflects ongoing China–Egypt green energy cooperation under the Belt and Road Initiative.
Cornex currently supplies energy storage products to more than 60 countries and regions worldwide. In his 2026 New Year’s message, Chairman Dai Deming said the company’s shipments exceeded 90 GWh in 2025 and outlined plans to rapidly deploy over 300 GWh of production capacity across Cornex’s four major manufacturing bases in 2026.
