Chinese battery manufacturer Cornex New Energy entered into a strategic partnership agreement to supply 5.5 GWh of energy storage products to Saudi Arabia-based Al Rajhi Electrical in partnership with Shanghai Greengrid on February 3, during a signing ceremony in Dammam, Saudi Arabia.
Under the agreement, Cornex – Al Rajhi Electrical’s first Chinese strategic partner in the energy storage sector – will supply 5.5 GWh of lithium battery products over the next three years and provide technical support to help set up local production facilities. Shanghai Greengrid will act as the strategic platform for the tripartite collaboration and support the entire project lifecycle, from supply chain management and cross-border coordination to local implementation.
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The collaboration aims to accelerate the localization of energy storage systems and support the transformation of the regional energy structure.
Al Rajhi Electrical, a wholly owned subsidiary of Saudi diversified conglomerate Al Rajhi Group and major shareholder of ACWA POWER, contributes strong capital backing and extensive local operating capabilities. Shanghai Greengrid specializes in smart grids and new energy industries, using digital supply chain management and cross-border expertise to support international production expansion.
According to Cornex, the agreement marks an important step in the company’s expansion in the Middle East, underscoring the company’s technological capabilities and product competitiveness in the region.
Earlier, on January 16, Cornex New Energy signed a separate strategic cooperation agreement with Egypt’s WeaCan and Kemet. Under that deal, Cornex will supply 6 GWh of energy storage products for deployment in the Egyptian energy system. WeaCan, an Egypt-based project implementation partner, will handle government approvals, network connections and local operations, while Kemet, an Egyptian industrial manufacturer, will provide local project implementation and technical support.
This cooperation supports the large-scale deployment of energy storage in Egypt and reflects the ongoing cooperation between China and Egypt in green energy under the Belt and Road Initiative.
Cornex currently supplies its products to more than 60 countries and regions worldwide. In his 2026 New Year message, Chairman Dai Deming said shipments exceeded 90 GWh in 2025 and outlined plans to quickly deploy more than 300 GWh of production capacity across the company’s four main bases by 2026.
