Acwa Power Signs Storage Services Deals for Saudi Arabian Independent Storage Projects

03:05 AM EDT, 08/23/2026 (MT Newswires) -- Acwa Power (SASE:2082) entered into storage services agreements to develop, fund, build, own, and operate three battery energy storage system independent storage projects in Hail and Makkah, Saudi Arabia. The Saudi utility said Sunday that the agreements, which were signed with the Saudi Power Procurement Co., New Moya for Energy Storage Project Co., Buraiq for Energy Storage Project Co., and New Ishaa for Energy Storage Co., will span 15 years and cover the Kahafah, Haden, and Al-Muwaih projects. Acwa added that after the projects' financial close, it will secure a 34.9% stake in the New Moya, Buraiq, and New Ishaa.