Eversheds Sutherland has advised the Ministry of Energy and the Saudi Power Procurement Company (“SPPC”) on the successful commercial close of the 2060MW Shuaibah 2 Solar PV Project, in Al Shuaibah, Makkah province.
The project, which was completed with AlDhabaan & Partners in association with Eversheds Sutherland (International), has the potential to power 350,000 homes with commercial operation expected to be achieved by Q4 2025.
SPPC entered into a power purchase agreement with Water and Electricity Holding Company (“Badeel”), a wholly owned company by the Public Investment Fund (“PIF”), and ACWA Power. Badeel and ACWA Power will build, own, and operate Al Shuaibah 2 facility and the electricity produced will be sold to SPPC.
The Eversheds Sutherland team was led by partner and head of projects – Middle East Ashley Halewood (pictured), supported by senior associates Benjamin Clarke and Adite Aloke and associate Saed Obeidat.
The AlDhabaan & Partners team was led by partner Mohammad AlAhmad supported by associate Abdulrahman Alrashid.