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 updatesCommercially Connected shorts - 3 June 2026
- legal updatesGlobal Life Sciences & Healthcare Bulletin
- legal updatesConsumer Lens - Session 1 | The Rise of European Class Actions
- podcasts and webcastsTax NOLs in Cross-Border Structures Webinar
Latest Events
- virtual | June 09, 2026UK employment law training
- virtual | June 16, 2026Nordic (Denmark, Finland, Norway and Sweden) employment law training
- virtual | June 23, 2026Introduction to Swiss employment law
- virtual | September 10, 2026UAE - Employment law in the Dubai International Financial Centre
legal updates
June 03, 2026
Commercially Connected shorts - 3 June 2026
legal updates
June 03, 2026
Global Life Sciences & Healthcare Bulletin
legal updates
May 29, 2026
Consumer Lens - Session 1 | The Rise of European Class Actions
podcasts and webcasts
May 29, 2026
Tax NOLs in Cross-Border Structures Webinar
virtual
UK employment law training
June 09, 2026
1pm - 4pm (BST)
Virtual
virtual
Nordic (Denmark, Finland, Norway and Sweden) employment law training
June 16, 2026
12.45pm - 4pm (BST)
Virtual
virtual
Introduction to Swiss employment law
June 23, 2026
2pm - 5pm (GMT)
Virtual
virtual
UAE - Employment law in the Dubai International Financial Centre
September 10, 2026
9.30am - 1.30pm (GMT)
Virtual