French utility EDF Renewables, in partnership with SPIC Huanghe Hydropower Development (SPIC HHDC) and Saudi Aramco Power Company (SAPCO), has secured financing for the 400MW Al Henakiyah-2 and 1GW Al Masa’a solar PV projects in Saudi Arabia.
Developed under 25-year power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC), the consortium will handle design, financing, construction and operation. The 1GW Al Masa’a plant in Hail Province, 590km north of Riyadh, is slated for Q3 2027, while the 400MW Al Henakiyah-2 project in Madinah Province, 720km west of the capital, is due in Q1 2027.
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Cédric Le Bousse, executive vice president Europe, Middle East, Central Asia at EDF, said, “The Al Masa’a and Al Henakiyah-2 projects will further strengthen EDF’s position in the country, bringing our total renewable capacity to over 3.5GW.”
The projects are financed by a consortium of local and international lenders, including Saudi Investment Bank, Bank of China, Société Générale, BNP Paribas, Abu Dhabi Commercial Bank, and First Abu Dhabi Bank, reflecting strong investor confidence in Saudi Arabia’s renewables market. Both plants form part of the National Renewable Energy Program (NREP), supporting the Kingdom’s goal to generate 50% of its electricity from renewables by 2030 and advance its decarbonisation agenda.
According to the firm, the projects, located in Madinah and Hail provinces, will rank among the world’s largest solar developments. The equipment, materials, and services for the projects will be sourced locally during construction, the firm said.
Nanterre, France-headquartered EDF Power Solutions, combining EDF Renewables and EDF Group’s International Division is active in 25 countries. The company manages 31GW of installed capacity, and its portfolio spans solar, wind, hydro, biomass, and energy storage, alongside solutions in e-mobility, hydrogen, and off-grid systems.
