Saudi solar project reaches financial close

• Lenders to Jinko's 300MW Saad PV scheme include Riyad Bank as well as Arab Petroleum Investment Corporation

A 300MW solar project in Saudi Arabia has actually reached financial close.

China-headquartered Jinko Solar is establishing the 300MW Saad project.

Lenders to the project consist of Riyad Bank, Abu Dhabi Islamic Bank as well as Arab Petroleum Investment Corporation.

They were suggested by the law firm Bracewell.

The project had actually browsed "challenging macro-economic conditions, including spiralling inflation as well as material sourcing difficulties", ahead of financial close, Bracewell mentioned.

Tom Jamieson, who led Bracewell's group on the funding, claimed: "We are delighted to have actually serviced this landmark utility scale solar project funding in the Kingdom.

" When combined with our current work on the award-winning Rabigh 300 MW solar PV IPP as well as the 800 MW Al Kharsaah solar PV IPP, this is an additional fantastic example of Bracewell's ongoing leadership on renewables projects in area."