URGENT UPDATE: Major developments in the global energy storage market unfold as Chinese leaders Cornex, CATL, and Tianneng Group announce a series of groundbreaking international agreements that could reshape energy solutions worldwide. As of February 2026, these collaborations are set to significantly enhance energy storage capabilities across multiple regions, including the Middle East, Europe, and Southeast Asia.
Cornex has just secured a pivotal 5.5 GWh energy storage cooperation agreement with Al Rajhi Electrical in Dammam, Saudi Arabia. This landmark deal marks the first strategic partnership for Al Rajhi with a Chinese entity in the energy sector, aimed at empowering local manufacturing and enhancing energy storage solutions. Under this agreement, Cornex will supply cutting-edge lithium battery products to support Al Rajhi’s ambitious project development over the next three years.
Meanwhile, CATL, the world’s leading battery manufacturer, has joined forces with UK-based Schroders Greencoat and Hong Kong’s Lochpine Capital. This strategic partnership focuses on developing energy storage projects across Europe, targeting a planned capacity of up to 10 GWh. The memorandum of understanding (MoU) was signed on February 2, 2026, underlining a commitment to push innovative battery storage solutions forward. The agreement was attended by significant figures, including Lucy Rigby, KC MP, and Richard Oldfield, CEO of Schroders.
In another major stride, Tianneng Group has finalized a strategic agreement with VCI Global Limited in Malaysia. Together, they will construct a groundbreaking 1 GWh solar-plus-storage power plant in Malacca, which aims to establish a benchmark in green energy. This project is designed to integrate advanced AI capabilities with renewable energy solutions, marking a significant move towards zero-carbon power sources.
Additionally, Zhiguang Electric has officially signed contracts for three PV-storage-diesel microgrid projects with Vinmart Group in the Democratic Republic of the Congo. These projects will provide critical power support in one of the world’s most resource-rich regions, addressing the pressing energy needs of local mining operations.
Finally, SolaX has appointed Raystech Group Pty Ltd as its exclusive agent for residential energy storage products in Australia, committing to a procurement of no less than 1 GWh for 2026. This strategic move enhances SolaX’s footprint in the burgeoning Australian market, covering various energy storage solutions for residential, commercial, and industrial sectors.
These developments highlight a significant shift in the global energy landscape, with Chinese firms at the forefront of expanding international energy storage capabilities. As these agreements unfold, the impact on local markets and global energy strategies will be closely monitored.
What to watch next: Keep an eye on how these partnerships will influence energy prices and sustainability efforts in the respective regions. The next few months will be critical as these projects move from agreements to implementation, potentially altering energy dynamics globally.
