Philadelphia Solar Company and 22 other companies signed a Memorandum of Understanding with the Ministry of Energy and Mineral Resources which were qualified to invest in the project of storage of electrical energy with a capacity of 30 MW (60 MWh) and with an investment cost of about 40 million dollars.

This project considered as the first of its kind in the region and the first phase of a major power storage project, which will be implemented later by the National Electric Power company to maintain the stability of the network until 2020.

The installation and operation of the project is expected to be completed by the middle of next year according to the project schedule.