Masdar, GD Power, and Korea Electric Power Corporation (KEPCO) have finalized financial close for the 2 GW Al Sadawi solar project in Saudi Arabia’s Eastern Province.  A 25-year Power Purchase Agreement was signed with the Saudi Power Procurement Company in late 2024. The facility is part of the National Renewable Energy Program, which is supervised by the Ministry of Energy.Following this, the consortium worked with lenders to structure financing facilities to cover most of the estimated $1.1 billion project cost. Eight regional and international banks, including Standard Chartered, HSBC, BNP Paribas, Bank of China, and others, committed to funding. The project will be developed on a Build, Own, and Operate basis. Construction activities will advance toward early generation in 2027, with full commercial operation expected the same year. Once completed, Al Sadawi will stand among the largest solar power installations worldwide.