emirates7 - Emirates Development Bank (EDB) has signed a groundbreaking AED 100 million financing agreement with Yellow Door Energy (YDE), a leading provider of sustainable energy solutions in the MEA region. The deal will support the development and operation of over 60 solar photovoltaic (PV) plants across the UAE.
This financing will allow YDE to expand its solar PV portfolio, enabling the company to lease solar power plants to industrial and commercial enterprises through power purchase agreements (PPAs). The collaboration will provide major industrial players in the UAE with long-term access to clean energy, resulting in significant cost savings and promoting sustainable energy use nationwide.
By helping industry leaders transition to renewable energy, this partnership exemplifies efforts to drive the region's energy transition and sustainable growth.
Ahmed Mohamed Al Naqbi, CEO of EDB, commented, “Our partnership with Yellow Door Energy marks a significant step forward in enhancing the UAE’s renewable energy landscape and advancing towards a net-zero future. Our financing will support businesses in adopting clean energy, reducing their carbon footprint, and contributing to the country's sustainable growth and diversification goals. This collaboration is a prime example of how public-private partnerships can generate substantial economic and environmental benefits.”
Jeremy Crane, Group CEO of Yellow Door Energy, expressed, “This partnership strengthens our financing capabilities and enables us to accelerate the deployment of solar energy in the UAE. As a UAE-based company, we highly value our relationship with the country's leading federal bank. Together, we are committed to helping businesses reduce energy costs, increase resilience, and achieve their sustainability and Net Zero targets.”
This financing will allow YDE to expand its solar PV portfolio, enabling the company to lease solar power plants to industrial and commercial enterprises through power purchase agreements (PPAs). The collaboration will provide major industrial players in the UAE with long-term access to clean energy, resulting in significant cost savings and promoting sustainable energy use nationwide.
By helping industry leaders transition to renewable energy, this partnership exemplifies efforts to drive the region's energy transition and sustainable growth.
Ahmed Mohamed Al Naqbi, CEO of EDB, commented, “Our partnership with Yellow Door Energy marks a significant step forward in enhancing the UAE’s renewable energy landscape and advancing towards a net-zero future. Our financing will support businesses in adopting clean energy, reducing their carbon footprint, and contributing to the country's sustainable growth and diversification goals. This collaboration is a prime example of how public-private partnerships can generate substantial economic and environmental benefits.”
Jeremy Crane, Group CEO of Yellow Door Energy, expressed, “This partnership strengthens our financing capabilities and enables us to accelerate the deployment of solar energy in the UAE. As a UAE-based company, we highly value our relationship with the country's leading federal bank. Together, we are committed to helping businesses reduce energy costs, increase resilience, and achieve their sustainability and Net Zero targets.”