Yellow Door Energy, a leading provider of sustainable energy solutions for businesses across the Middle East and Africa, has secured a landmark $27 million (AED 100 million) financing agreement with Emirates Development Bank (EDB) to accelerate the development and operation of over 60 solar photovoltaic (PV) plants across the UAE.
This collaboration signals a major boost to Yellow Door’s renewable energy initiatives aimed at reducing energy costs and carbon emissions for industrial and commercial sectors.
With this financing, Yellow Door Energy will enhance its solar leasing capacity, offering long-term, cost-effective solar power solutions to businesses under Power Purchase Agreements (PPAs).
The initiative is expected to deliver substantial energy savings and support sustainable growth for key players in the UAE’s industrial sector, all while advancing the country’s transition to renewable energy.
“This collaboration with Yellow Door Energy marks a pivotal step in our mission to strengthen the UAE’s renewable energy infrastructure and push forward on our net-zero ambitions,” said Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank.
“Through this financing, we’re empowering businesses to adopt clean energy sources, which not only lowers operational costs but also aligns with our commitment to sustainable growth and economic diversification.”
Jeremy Crane, Group CEO of Yellow Door Energy, stressed the impact of the partnership on accelerating renewable energy access for UAE businesses. “This financing enables us to expand our solar footprint significantly, supporting businesses in cutting energy costs, enhancing resilience, and achieving their sustainability goals,” Crane noted. “As a UAE-founded company, we value our partnership with EDB and are proud to contribute to the country’s net-zero journey.”
The strategic financing deal underscores a broader public-private partnership trend in the UAE, aimed at creating economic impact and driving the energy transition through renewable investments.
By equipping businesses with access to affordable clean energy, Yellow Door Energy and EDB are contributing to the UAE’s goal of reducing its carbon footprint and fostering a resilient, low-carbon economy.
The EDB funding will allow Yellow Door Energy to rapidly scale its solar operations, reinforcing the UAE’s leadership in renewable energy development across the region.
