German manufacturing equipment provider Schmid Group and Nusaned Investment, a unit of Saudi chemical company Sabic, which is, in turn, a subsidiary of the Kingdom’s oil giant Saudi Aramco, have joined forces to develop a 3 GWh redox flow battery production facility in Saudi Arabia.
The consortium, which also comprises RIWAQ Industrial Development Company, an investment firm based in Saudi Arabia, is planning to begin manufacturing activities at the new facility in 2021. Construction of the factory is slated to start in the second half of this year at a site in the Dammam-3 industrial city in the Dammam region in the Eastern Province of Saudi Arabia.
It will manufacture redox flow storage systems for utility-scale renewables projects, telecom towers, mining sites, remote cities and offgrid locations. Storage systems produced at the facility will be sold under the brand Everflow, the consortium added.
“The new JV will aim to establish a leadership position in the rapidly developing energy storage market and both companies are fully committed to realizing our joint vision for the project,” said Schmid CEO, Christian Schmid.
Schimd and Nusaned Investment had created the joint venture company for the project in May 2019.
Source: pv magazine