Eversheds Sutherland Advised Saudi Power Procurement Company On SAR 31 Billion Renewable Energy Deal

Eversheds Sutherland advised Saudi Power Procurement Company on SAR 31 billion renewable energy deal

Global law firm Eversheds Sutherland has advised Saudi Power Procurement Company (SPPC) on a landmark SAR 31 billion portfolio of renewable energy projects in Saudi Arabia.

This significant single-phase project comprises seven developments—five solar photovoltaic (PV) and two wind energy projects—with a combined capacity of 15,000 megawatts (MW). It marks the largest globally signed renewable energy capacity delivered in a single phase, and forms a key part of the Kingdom of Saudi Arabia’s National Renewable Energy Program (NREP). The NREP aims to achieve 50% renewable energy by 2030 under the Kingdom’s Energy Mix strategy.

The photovoltaic solar projects comprise:

• Bisha Project (Aseer Region) – 3,000 MW
  
• Humaij Project (Madinah Region) – 3,000 MW
  
• Khulis Project (Makkah Region) – 2,000 MW
  
• Afif 1 Project (Riyadh Region) – 2,000 MW
  
• Afif 2 Project (Riyadh Region) – 2,000 MW

The wind energy components include:

• Starah Project (Riyadh Region) – 2,000 MW
  
• Shaqra Project (Riyadh Region) – 1,000 MW

Eversheds Sutherland advised SPPC on all legal aspects of the procurement process, from initiation through to commercial close. Financial close is expected within Q3 of 2025.

Ashley Halewood (Partner) at Eversheds Sutherland, commented:

This transaction reinforces Eversheds Sutherland’s longstanding relationship with SPPC, having previously advised on several major renewable energy deals in the Kingdom. These include the financial close of the 2.6 GW Al Shuaibah 1 and Al Shuaibah 2 Solar PV, the largest in the Middle East, and three solar PV IPPs (Haden, Muwayh, and Al Khushaybi) totaling 5.5 GW, further cementing the firm’s position as a trusted legal adviser in Saudi Arabia’s clean energy journey.

The Eversheds Sutherland team was led by Ashley Halewood (Partner), supported by Adite Aloke (Principal Associate), Saed Obeidat (Associate), Sama Ali, and Mohamed Al-Ali. The Mohammed AlDhabaan & Partners Eversheds Sutherland team was led by Abdulatif Al Heraish (Partner), with support from Leen Al Moaiqel (Associate) and Ali Al Araifi.

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