A consortium led by EDF Power Solutions and SPIC Huanghe Hydropower Development Co. Ltd (SPIC HHDC), in partnership with Saudi Aramco Power Company (SAPCO), has achieved financial close on two major solar power projects in Saudi Arabia: the 1000 MW Al Masa’a Solar Power Plant in Hail Province and the 400 MW Al Henakiyah‑2 Solar Power Plant in Madinah Province, representing a combined installed capacity of 1400 MW (1.4 GW).
Commercial operations for Al Henakiyah‑2 is targeted in Q1 2027 and Al Masa’a scheduled for Q3 2027. Both facilities will operate under 25‑year Power Purchase Agreements signed with the Saudi Power Procurement Company (SPPC). The consortium will oversee design, financing, construction, and long‑term operation.
The projects secured financing from a group of regional and international banks including Saudi Investment Bank, Bank of China, Société Générale, BNP Paribas, First Abu Dhabi Bank, and Abu Dhabi Commercial Bank. This support highlights growing investor confidence in Saudi Arabia’s renewable energy sector.
Once operational, the two plants will supply electricity sufficient to meet significant demand and reduce around 3 million tons of CO2 emissions annually. They form part of the Kingdom’s National Renewable Energy Program (NREP) and align with the Ministry of Energy’s target to generate 50% of electricity from renewables by 2030.
EDF Power Solutions said the projects strengthen its renewable footprint in the Kingdom, raising its total installed renewable capacity to more than 3.5 GW. SPIC HHDC described the collaboration as a demonstration of international partnership in advancing Saudi Vision 2030, while Aramco’s New Energies division said the investment supports its strategy to expand in renewables, carbon capture, and lower‑carbon hydrogen.
Both sites will contribute to local economic development through equipment supply, materials procurement, and workforce participation, with Saudis expected to make up an increasing share of operations staff over time.
