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Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Tesla to build first grid-scale power plant in China

A Tesla charger frames the site of the Tonopah Historic Mining Park, in the mining town of Tonopah, Nevada on May 8, 2024. AFP
By TRENDS Desk AFP
June 21, 2025 9:50 am
  • The project will help with the flexible adjustment of grid resources, and "effectively solve pressures relating to urban power supply," Tesla said
  • Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project

New York, United States – Tesla announced Friday that it signed an agreement to build its first grid-scale energy storage power station project in mainland China.

The project will help with the flexible adjustment of grid resources, and “effectively solve pressures relating to urban power supply,” Tesla said in a post to the Chinese social media platform Weibo.

“After completion, this project is expected to become the largest grid-side energy storage project in China,” Tesla added.

Such energy storage systems help to enhance stability in the electricity grid at a time when there are greater supplies of solar and wind power.

Chinese media outlet Yicai reported that Tesla Shanghai, Shanghai authorities and China Kangfu International Leasing Co. held a signing ceremony Friday for the project.

It added that the deal involved investments of 4 billion yuan ($560 million).

The contract comes at a moment of tension between Washington and Beijing, with the two sides yet to hash out a long-term trade agreement following tariffs announced by President Donald Trump.

China and the United States negotiated a “framework” agreement in London earlier this month following two days of marathon talks.

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