Dentons Link Legal Advised EDF-Led Consortium On Financial Close Of 1,400 MW Solar Photovoltaic Projects In Saudi Arabia (NREP Round 5)
Dentons Link Legal advised EDF-led consortium on financial close of 1,400 MW solar PV projects in Saudi Arabia.
Dentons Link Legal Advised EDF-Led Consortium on Financial Close of 1,400 MW Solar Photovoltaic Projects in Saudi Arabia (NREP Round 5)
The full-service corporate and commercial law firm, Dentons Link Legal, in collaboration with Dentons global offices, advised a consortium led by EDF Power Solutions (EDF) and SPIC Huanghe Hydropower Development Co., Ltd., in partnership with Saudi Aramco Power Company (a wholly owned subsidiary of Aramco), on the successful financial close of two large-scale utility solar photovoltaic independent power projects in Saudi Arabia. The projects include the 1,000 MW Al Masa’a Solar PV Project and the 400 MW Al Henakiyah 2 Solar PV Project.
These landmark renewable energy assets form part of Round 5 of Saudi Arabia’s National Renewable Energy Programme (NREP), supporting the Kingdom’s Vision 2030 goals to accelerate clean energy deployment and reduce reliance on conventional power. NREP Round 5 consists of four solar projects aggregating approximately 3.7 GW.
Under long-term 25-year power purchase agreements with the Saudi Power Procurement Company (SPPC), the consortium will design, finance, construct, and operate both projects, with commercial operations targeted for Q1 2027 for Al Henakiyah 2 and Q3 2027 for Al Masa’a, located in Madinah Province and Hail Province, respectively.
Project financing was secured from a syndicate of international and regional banks and financial institutions across Saudi Arabia, China, France, Singapore, Sweden, and the United Arab Emirates, reflecting strong lender confidence in the project structure, tariff sustainability, regulatory framework, and long-term credit profile.
Dentons and Dentons Link Legal’s Role included:
- Structuring and negotiation of project documentation and bankability parameters.
- Advising on cross-border financing arrangements and lender requirements.
- Supporting EPC contracting and long-term O&M frameworks.
- Multi-jurisdictional legal coordination and execution.
Stephen Knight, Partner and Head of Middle East Banking and Finance at Dentons, said,
“We are proud to have supported our clients on this landmark renewable energy initiative, which underscores Saudi Arabia’s continued progress toward a sustainable and diversified energy future. This deal further demonstrates Dentons’ depth of experience in advising on large-scale, cross-border energy projects across the Middle East.”
Kanishka Singh, Energy and Projects Partner at Dentons, added,
“Dentons’ involvement highlights our deep understanding of the complexities of clean energy financing and solar IPP development in Saudi Arabia. We are delighted to support our clients in structuring innovative and bankable projects that advance the Kingdom’s Vision 2030 clean energy goals.”
This transaction reinforces Dentons and Dentons Link Legal’s credentials in global renewable energy development, IPP project structuring, EPC & O&M work, and multi-jurisdictional project finance, demonstrating their ability to manage complex, cross-border clean energy mandates.
The EPC and O&M workstreams were led by Dentons Link Legal India, with Prashanth Sabeshan (Partner) leading, supported by Swati Rawat (Principal Associate), Khushi Yadav (Associate), and other team members.
Dentons Link Legal, established in 1999, is a full-service corporate and commercial law firm with over 50 partners and 250 lawyers across multiple practice areas. With offices in all major Indian cities and access to more than 160 offices in over 80 countries through Dentons’ combination firms, Dentons Link Legal is equipped to assist clients in achieving their business objectives with a team of experienced, well-trained, and qualified lawyers.
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