On February 3, 2026, CORNEX signed an energy storage strategic cooperation agreement with Al Rajhi Electrical and GREENGRID in Dammam, Saudi Arabia. Liu Runchang, head of CORNEX's overseas business unit, Nader AlDhakeel, CEO of Al Rajhi Electrical, and Wu Yang, founder of Shanghai Yidian, witnessed the signing of the contract together.

This cooperation aims to actively respond to Saudi Arabia's "2030 Vision" energy transformation strategy and jointly explore the Middle East energy storage market. According to the agreement, as the first Chinese strategic partner of Al Rajhi Electrical in the field of energy storage, CORNEX will fully leverage its research and development capabilities and large-scale manufacturing advantages in the field of lithium batteries to provide advanced energy storage products and comprehensive technical support for Al Rajhi Electrical's local factory construction in Saudi Arabia. Over the next three years, CORNEX will supply a total of 5.5 GWh of energy storage products to Al Rajhi Electrical for localized production and project construction in the Middle East market. Shanghai Yidian will serve as a key strategic link and platform support for the tripartite cooperation, deeply participating in the entire process of energy storage projects from supply chain organization, cross-border collaboration to localized implementation, providing systematic guarantees for the layout of the energy storage industry in the Middle East. The three parties will jointly promote the localization layout of energy storage systems and accelerate the transformation of local energy structure.

Al Rajhi Electrical is a wholly-owned subsidiary of Al Rajhi Group, a diversified enterprise giant in Saudi Arabia. With the strategic background of the group as an important shareholder of ACWA POWER, it enjoys significant capital and strategic synergy advantages. The company has been deeply involved in power and automation solutions since 2012, with leading advantages in industrial, commercial, and residential fields, strong financial strength, and localized operational capabilities.

Shanghai GREENGRID focuses on the smart grid and new energy industries, committed to enhancing the international competitiveness of manufacturing enterprises through digital supply chain management and cross-border collaboration capabilities. The power industry in Saudi Arabia, Brazil and other "the Belt and Road" countries has accumulated rich project experience and industrial resources, and has the comprehensive ability to deeply serve the overseas layout and localization of manufacturing enterprises.

CORNEX relies on its full industry chain advantages covering research and development, production, sales, and service, and has established a global service network that can provide customized, full lifecycle product solutions and technical support for different regional market needs. At present, CORNEX products have covered over 60 countries and regions worldwide.

This cooperation is a crucial step for CORNEX to expand into the Middle East market and deepen its overseas layout, marking the high recognition of CORNEX's technological strength and product competitiveness in the mainstream Middle East market. In the future, CORNEX will take the Middle East as its strategic pivot, work together with international partners to build a green energy ecosystem, and contribute wisdom and strength to the global energy transition and carbon neutrality goals.Editor/Yang Meiling