Tribe Acts as Lead Financial Advisor on 300MW Solar PV Project in Saudi Arabia

Tribe Infrastructure Group acted as Lead Financial Advisor to the consortium comprising Al Jomaih Energy and Water Company and TotalEnergies for the 300MW Solar PV project located in Rabigh, Saudi Arabia, which has achieved financial close.

The project was procured by Saudi Arabia’s Renewable Project Development Office (REPDO) as part of Round 5 of the Kingdom’s National Renewable Energy Program (NREP). Supervised by the Ministry of Energy, NREP aims to establish a balanced energy mix with approximately equal proportions of gas and renewable energy by 2030, thereby reducing the reliance on liquid fuels for electricity generation in line with Saudi Vision 2030.

In its role, Tribe provided comprehensive financial advisory services during the bidding, negotiation, and financing phases, including risk assessments, project bankability reviews, financial structuring, debt and equity optimisation, financial modelling, and negotiation support for key project contracts.

Tribe arranged a financing package consisting of conventional and Islamic non-recourse project financing from international and regional lenders. Tribe also advised the consortium on optimal risk allocation for EPC and O&M contracts, tariff optimisation, and financing terms.

James Cook, CEO of Tribe Advisory, said, “Tribe is proud to have guided this project to financial close as Lead Financial Advisor. Our team provided extensive support through financial structuring, risk assessment, financial modelling, and contract negotiations. The project directly supports Saudi Arabia’s renewable energy targets under Vision 2030.”

The solar power plant will be developed, constructed, owned, and operated by the consortium, with grid connection planned for 202