Dentons Advised EDF-Led Consortium On Financial Close Of 1.4 GW Solar Projects In Saudi Arabia
Dentons advised EDF-led consortium on financial close of 1.4 GW solar projects in Saudi Arabia
The Global Law firm, Dentons advised a consortium led by EDF Power Solutions (EDF) and SPIC Huanghe Hydropower Development Co., Ltd., in partnership with Saudi Aramco Power Company, on the successful financial close of two major solar photovoltaic projects: the 1,000 MW Al Masa’a and 400 MW Al Henakiyah-2 plants.
These projects form part of the fifth round of Saudi Arabia’s National Renewable Energy Programme (NREP) and mark a key milestone in advancing Vision 2030 goals for clean energy. Under 25-year power purchase agreements with the Saudi Power Procurement Company, the consortium will design, finance, construct, and operate both facilities.
Financing was secured from a syndicate of leading regional and international financial institutions across the Kingdom, China, France, Singapore, Sweden, and the UAE.
Dentons played a pivotal role in guiding the EDF-led consortium through every stage of these transactions, from bid structuring and documentation to financing and regulatory compliance. Drawing on its extensive experience in large-scale infrastructure and renewable energy financing, the firm ensured the projects met the highest standards of bankability and competitiveness.
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."
The Dentons team was co-led by Financial and transaction advisory Stephen Knight (Partner, Head of Middle East Banking and Finance), Kanishka Singh (Partner, Abu Dhabi), 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), Manya Jain (Trainee, London).
The Local law advisory, Ahmed Butt (Partner, Dubai/Riyadh), Yara AlSaygh (Associate, Jeddah), Mahnoor Latif (Associate, Dubai/Riyadh).
The Debt Capital Markets advisory, Matthew Sapte (Partner, London), Andrew Gallagher (Associate, Dubai), Arun Bindra (Associate, London).
The EPC and O&M advisory, Prashanth Sabeshan (Partner, India), Swati Rawat (Principal Associate, India), Khushi Yadav (Associate, India), and other team members.
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