Dentons Advises EDF-led Consortium on Financial Close of 1.4 GW Saudi Solar Projects

Dentons advised a consortium led by EDF Power Solutions and SPIC Huanghe Hydropower Development, in partnership with Saudi Aramco Power Company (a wholly owned Aramco subsidiary), on the successful financial close of the 1,000 MW Al Masa’a and 400 MW Al Henakiyah-2 solar photovoltaic projects in the Kingdom of Saudi Arabia. The transactions form part of the fifth round of Saudi Arabia’s National Renewable Energy Programme (NREP). Under 25‑year power purchase agreements with the Saudi Power Procurement Company, the consortium will design, finance, construct and operate both facilities. The Al Masa’a project, located in Hail Province approximately 590 km north of Riyadh, is expected to reach commercial operation in Q3 2027. The Al Henakiyah-2 project, situated in Madinah Province around 720 km west of the capital, is scheduled to begin operations in Q1 2027. Collectively these projects contribute to NREP Round 5, which comprises four solar plants with a combined capacity of 3.7 GW. Financing was secured from a syndicate of leading regional and international financial institutions across the Kingdom, China, France, Singapore, Sweden and the UAE, reflecting broad international confidence in Saudi Arabia’s renewable energy framework. Dentons represented the EDF-led consortium (EDF Power Solutions and SPIC Huanghe Hydropower Development, in partnership with Saudi Aramco Power Company) with a team composed by: Stephen Knight (Partner and Head of Middle East Banking and Finance), and Kanishka Singh (Partner, Abu Dhabi; Energy and Projects Partner), supported by Tony Nicholson (Senior Associate, Dubai), Elen Roberts (Senior Associate, Abu Dhabi), Patrick Yeo (Associate, Abu Dhabi), Darell Pang (Associate, Abu Dhabi), Noor Oueida (Trainee, Dubai), Jasim Alzaabi (Trainee, Dubai) and Manya Jain (Trainee, London). Dentons represented the EDF-led consortium (EDF Power Solutions and SPIC Huanghe Hydropower Development, in partnership with Saudi Aramco Power Company) with local law advice provided by: Ahmed Butt (Partner, Dubai/Riyadh), Yara AlSaygh (Associate, Jeddah) and Mahnoor Latif (Associate, Dubai/Riyadh). Dentons represented the EDF-led consortium (EDF Power Solutions and SPIC Huanghe Hydropower Development, in partnership with Saudi Aramco Power Company) with debt capital markets related advice provided by: Matthew Sapte (Partner, London), Andrew Gallagher (Associate, Dubai) and Arun Bindra (Associate, London).

Dentons Advises EDF-led Consortium on Financial Close of 1.4 GW Saudi Solar Projects

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