300MW Sakaka Solar PV Project in Saudi Arabia

Hogan Lovells advised Natixis acting as Sole Underwriter, Initial Mandated Lead Arranger, Bookrunner, Hedge Provider, Offshore Security Agent and Offshore Account Bank to the ACWA Power led consortium on the successful project financing of the 300MW Sakaka Solar independent power plant (IPP) project in Saudi Arabia

The 300 MW Sakaka IPP is the first utility-scale renewable energy project under the Saudi National Renewable Energy Program by Renewable Energy Project Development Office (REPDO). The Sakaka IPP will harness solar energy by utilizing photovoltaic (PV) technology to generate electricity at a very competitive tariff. It is expected to enter commercial operation in June 2020.

The Hogan Lovells team was led by Dubai-based infrastructure partner Sohail Barkatali (Picture), with support from Rahail Ali (Partner, Dubai), Imran Mufti (Partner, Dubai) and Tony Nicholson (Associate, Dubai) and others from Hogan Lovells offices in London, Singapore and Paris.

Hogan Lovells also advised Arab National Bank as EBL lender. The EBL lender was advised by Rustum Shah (Partner, Dubai) and Ahmet Kalafat (Senior Associate, Dubai).

Involved fees earner: Rahail Ali – Hogan Lovells; Sohail Barkatali – Hogan Lovells; Ahmet Kalafat – Hogan Lovells; Imran Mufti – Hogan Lovells; Tony Nicholson – Hogan Lovells; Rustum Shah – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Arab National Bank (ANB); Natixis;


Author: Michael Patrini.