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 Insights
- legal updatesThe Race for Power - Meeting the global energy demands of AI data centres
- legal updatesSnapshot Update: EU Pay Transparency Directive
- legal updatesEU Transparent and Predictable Working Conditions Directive
- legal updatesConsumer Lens - Session 2 | Protecting Brand Prestige: IP Rights and Distribution Governance
Latest Events
- virtual | September 29, 2026Employment law in the Kingdom of Saudi Arabia
- virtual | October 08, 2026Energy Transition Series: Energy Transition and Pricing Volatility
- in-person | October 08, 2026Labor relations conference - turning legal change into workplace reality
- virtual | October 14, 2026Ireland & Northern Ireland employment law
legal updates
September 28, 2026
The Race for Power - Meeting the global energy demands of AI data centres
legal updates
September 28, 2026
Snapshot Update: EU Pay Transparency Directive
legal updates
September 28, 2026
EU Transparent and Predictable Working Conditions Directive
legal updates
September 24, 2026
Consumer Lens - Session 2 | Protecting Brand Prestige: IP Rights and Distri...
virtual
Employment law in the Kingdom of Saudi Arabia
September 29, 2026
9.30am - 12.30pm (BST)
Virtual
virtual
Energy Transition Series: Energy Transition and Pricing Volatility
October 08, 2026
10:00 ET | 15:00 BST | 16:00 CET
in-person
Labor relations conference - turning legal change into workplace reality
October 08, 2026
10.00am - 4.00pm (BST)
London, United Kingdom
virtual
Ireland & Northern Ireland employment law
October 14, 2026
2pm - 5pm (GMT)
Virtual