Eversheds Sutherland advises on the financial close of 2.6GW Al Shuaibah 1 and Al Shuaibah 2 Solar PV Projects
August 28, 2023
Together with AlDhabaan & Partners in association with Eversheds Sutherland, we advised Saudi Power Procurement Company, as the procurer and offtaker, for the Al Shuaibah 1 and Al Shuaibah 2 solar photovoltaic projects which achieved financial close on 10 August 2023.
The Al Shuaibah PV 1 and Al Shuaibah PV 2 projects will have a capacity of 600 MW and 2,031 MW respectively and are capable of powering approximately 450,000 households. The total investment in the projects amounts to USD2.37 billion, and commercial operations will commence in 2025.
Financial close for the projects is a key achievement in the National Renewable Energy Program which is led and supervised by the Ministry of Energy.
The Eversheds Sutherland team was led by Partner & Head of Projects – Middle East, Ashley Halewood, with support from Senior Associate Adite Aloke, along with Partners Abdulatif AlHerish and Mohammed AlAhmad, and Associates Abdulrahman Alrashid and Saed Obeidat of AlDhabaan & Partners in association with Eversheds Sutherland.
Ashley Halewood, Partner, Eversheds Sutherland, commented: “We are proud to have advised SPPC on these ground-breaking projects which will contribute significantly to the achievement of Saudi Arabia’s renewable energy goals.”
The Al Shuaibah PV 1 and Al Shuaibah PV 2 projects will have a capacity of 600 MW and 2,031 MW respectively and are capable of powering approximately 450,000 households. The total investment in the projects amounts to USD2.37 billion, and commercial operations will commence in 2025.
Financial close for the projects is a key achievement in the National Renewable Energy Program which is led and supervised by the Ministry of Energy.
The Eversheds Sutherland team was led by Partner & Head of Projects – Middle East, Ashley Halewood, with support from Senior Associate Adite Aloke, along with Partners Abdulatif AlHerish and Mohammed AlAhmad, and Associates Abdulrahman Alrashid and Saed Obeidat of AlDhabaan & Partners in association with Eversheds Sutherland.
Ashley Halewood, Partner, Eversheds Sutherland, commented: “We are proud to have advised SPPC on these ground-breaking projects which will contribute significantly to the achievement of Saudi Arabia’s renewable energy goals.”
Latest News
- firm newsEversheds Sutherland advises Baird Capital on the sale of Vega Global to FORTE
- firm newsEversheds Sutherland strengthens top-ranked pensions practice with appointment of former Global Head of Pensions
- client newsEversheds Sutherland advises H.I.G. Capital on investment in Phoenix ME
- client news
Latest Events
- virtual | September 10, 2026UAE - Employment law in the Dubai International Financial Centre
- in-person | September 10, 2026Managing AI use in the workplace: what every UK HR team needs to know
- in-person | September 17, 2026Basic foundations of US employment law
- in-person | September 23, 2026
firm news
September 04, 2026
Eversheds Sutherland advises Baird Capital on the sale of Vega Global to FO...
firm news
August 26, 2026
Eversheds Sutherland strengthens top-ranked pensions practice with appointm...
client news
August 13, 2026
Eversheds Sutherland advises H.I.G. Capital on investment in Phoenix ME
client news
August 13, 2026
virtual
UAE - Employment law in the Dubai International Financial Centre
September 10, 2026
9.30am - 1.30pm (GMT)
Virtual
in-person
Managing AI use in the workplace: what every UK HR team needs to know
September 10, 2026
9.30am - 1.00pm (BST)
London, United Kingdom
in-person
Basic foundations of US employment law
September 17, 2026
9.30am - 4.30pm (GMT)
London, United Kingdom
in-person
September 23, 2026
Washington DC, United States