The Emirates Development Bank (EDB) has finalized a AED 100 million ($27.2 million) financing agreement with Yellow Door Energy (YDE) to support the development and operation of more than 60 solar photovoltaic projects across the UAE.
The funding will help YDE expand its solar portfolio, providing long-term access to clean energy for large industrial customers in the region. YDE, based in the UAE, specializes in delivering solar solutions to commercial and industrial businesses across the Middle East and Africa.
Jeremy Crane, Group CEO of YDE, emphasized that the partnership would enable the company to scale rapidly and accelerate its contributions to the UAE's renewable energy goals.
Yellow Door Energy is backed by prominent shareholders, including Actis, the International Finance Corporation (IFC), Mitsui & Co Ltd, and The Arab Energy Fund (TAEF). This investment aligns with the UAE's broader strategy to promote sustainable energy adoption and reduce carbon emissions.
