Masdar and partners reach financial close for 2 GW Al Sadawi solar project in Saudi Arabia

UAE-based renewable energy company Masdar, in partnership with China’s GD Power and Korea Electric Power Corporation (KEPCO), has reached financial close on the 2 GW Al Sadawi solar PV project in Saudi Arabia. The project is part of the National Renewable Energy Program (NREP), led by the Kingdom’s Ministry of Energy. Estimated at US$1.1 billion, the project is backed by financing from eight major regional and international lenders. The plant is expected to begin early power generation at full capacity in early 2027, with commercial operations launching later that year. This milestone advances Saudi Arabia’s clean energy goals and reinforces global partnerships in the renewable sector.