Dentons Link Legal is pleased to share its involvement, in collaboration with Dentons global offices, in advising 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 the Kingdom of Saudi Arabia. The projects comprise 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) and contribute to the Kingdom’s Vision 2030 strategy of accelerating clean energy deployment and reducing reliance on conventional power. NREP Round 5 consists of four solar projects aggregating approximately 3.7 GW, which positions it among the most impactful solar procurement rounds in the region.

Under long-term 25-year power purchase agreements executed with the Saudi Power Procurement Company (SPPC), the consortium will design, finance, construct and operate both projects. Commercial operations are targeted for Q1 2027 for Al Henakiyah 2 and Q3 2027 for Al Masa’a, with project locations 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.

Scope of Work and Role of Dentons and Dentons Link Legal

Dentons, together with Dentons Link Legal as part of the integrated global platform, advised the consortium across all bid, project development, financing, corporate, EPC, O&M and regulatory compliance workstreams, which included:

  • Structuring and negotiation of project documentation and bankability parameters
  • Advising on cross-border financing arrangements and lender requirements
  • Support on EPC contracting and long-term O&M frameworks
  • Multi-jurisdictional legal coordination and execution

The EPC and O&M workstreams were led by Dentons Link Legal India, with Partner - Prashanth Sabeshan leading, supported by Principal Associate - Swati Rawat, Associate - Khushi Yadav, and other team members.

This transaction further strengthens Dentons and Dentons Link Legal credentials in global renewable energy development, EPC & O&M Work, IPP project structuring and multi-jurisdictional project finance, and reinforces our capability to collaborate seamlessly across geographies on complex, multi-stakeholder clean energy mandates.

Deal Team

Dentons Global Team

Stephen Knight, Partner and Head of Middle East Banking and Finance (Co-Lead)

Kanishka Singh, Partner, Abu Dhabi (Co-Lead)

Supported by Tony Nicholson, Elen Roberts, Patrick Yeo, Darell Pang, Noor Oueida, Jasim Alzaabi and

Manya Jain and other local support teams.

Dentons Link Legal India EPC and O&M Team

Prashanth Sabeshan, Partner (Lead)

Swati Rawat, Principal Associate

Khushi Yadav, Associate; and

Additional members from infrastructure and energy teams.