The projects, Al Masa’a (MAS) and Al Henakiyah 2 (AHK2), are part of the fifth round of Saudi Arabia’s National Renewable Energy Program (NREP)

Covering 14.5 million square meters, the project comprises over 2 million bifacial photovoltaic solar panels

Masdar reported that its operational, under-construction, and advanced pipeline capacity increased from 20GW in 2022 to 51GW by the close of 2024.

The project features a 5.2GW (DC) solar PV plant paired with a groundbreaking 19GWh BESS, creating a renewable energy facility capable of providing 1GW of baseload power 24/7.

The deal was conducted in partnership with Saudi Arabia’s Zamil Group Investment Company and the Ghandour family

The loan, with a 20-year tenure, will finance the development, construction, and ongoing operation and maintenance of the wind farm.