Successful bid price of BESS project in Iraq 2026

Which MENA region will be a Bess market in 2026?

The rapid growth rate of energy storage in the MENA region, led by the GCC, is surprising many analysts. Saudi Arabia, in particular, is set to be the third biggest global BESS market after the USA and China in 2026.

Will Saudi be the third biggest Bess market in 2026?

And if we add recent tenders, this will lead to a whopping 33.5 GWh of BESS capacity by 2026. This would make Saudi the third biggest global BESS market after the USA and China. While KSA is certainly leading the pack, increasing deployments can be witnessed all across MENA and the Gulf or GCC region in particular.

How does Bess procurement work in the UAE?

In the UAE, Emirates Water and Electricity Company (EWEC) issued in July 2024 a RfP for a 400 MW / 400 MWh standalone BESS project. These offtakers conduct BESS procurement either through the EPC route, where they procure the BESS product, or via the IFP route, where they procure flexibility services.

How much does Bess cost in China?

It is nonetheless still eye-opening to note just how big those differences in cost are. The average for a turnkey system in China including 1-hour, 2-hour and 4-hour duration BESS was just US$101/kWh. In the US, the average was US$236/kWh and in Europe US$275/kWh, more than double China’s average cost.

Did BNEF win a Bess bid in China?

Downstream, as reported by Energy-Storage.news, recent tenders in China have been held in which winning bids for BESS projects as low as US$66/kWh were entered, which Kikuma says were in broadly in line with BNEF’s numbers.

Will SEC tender a GWh Bess in 2024?

Furthermore, SEC is tendering a 12.5 GWh BESS on a split scope basis across five sites in KSA expecting to close in the fourth quarter of 2024. The Saudi Power Procurement Authority (SPPC) is planning annual standalone BESS tenders of 2 GW / 8 GWh from 2024 onwards, totalling 10 GW / 40 GWh by 2030.