Global law firm Eversheds Sutherland said its cross-practice, multi-office team has advised Saudi Power Procurement Company (SPPC) on a landmark portfolio of seven renewable energy projects in Saudi Arabia, comprising five solar PV and two wind developments.

 

With a combined capacity of 15,000 megawatts (MW) and a total investment of SAR31 billion ($8.25 billion), the deal represents the largest capacity globally signed for renewable energy projects delivered in a single phase.

 

The projects form a central part of the Kingdom of Saudi Arabia’s National Renewable Energy Program (NREP), which aims to deliver 50% renewable energy by 2030 as part of the Kingdom’s Energy Mix target.

 

The photovoltaic solar projects comprise two 3,000MW projects - one at Bisha in Aseer Region and the other at Humaij in Madinah Region) - as well as three 2,000MW project - one at Khulis in Makkah Region and two others at Afif in Riyadh Region.

 

The SPPC's wind energy components include the 2,000MW Starah Project and 1,000MW Shaqra Project (both in Riyadh Region).

 

Eversheds Sutherland said it had advised SPPC across all legal aspects of the procurement process through to commercial close. Financial close is expected to occur in Q3 of 2025.

 

Eversheds Sutherland’s cross-practice was led by Partner Ashley Halewood, and included support from 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) and included support from Leen Al moaiqel (Associate) and Ali Al Araifi.

 

On the strategic role, Halewood said: "This is a globally significant transaction, both in scale and ambition. The complexity and size of this deal required deep sector expertise, seamless collaboration across our teams, and a great understanding of both SPPC’s and KSA’s goals in relation to transitioning to renewable energy."

 

"The scope of the transaction underscores our firm’s commitment to enabling sustainable infrastructure, and supporting clients in their clean energy transition. Congratulations to everyone involved," he stated.

 

According to Halewood, this transaction builds on Eversheds Sutherland’s longstanding relationship with SPPC, having previously advised on several major renewable energy projects in the kingdom. 

 

These include the financial close of the 2.6 GW Al Shuaibah 1 and Al Shuaibah 2 Solar PV, the largest solar PV in the Middle East. 

 

The team had also advised on the financial close of three solar PV IPPs (Haden, Muwayh, and Al Khushaybi) totalling 5.5GW, cementing its role as a trusted legal adviser in Saudi Arabia’s clean energy transition.-TradeArabia News Service