Retail
Subscription
Advertise
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LILS KSA Summit 2023
    • LILA UAE Awards 2022
No Result
View All Result
LogisticsGulfNews.com
No Result
View All Result

National Bank of Fujairah and Yellow Door Energy sign multi-million dirham agreement to finance solar projects in the UAE

by Kevin Vaz
March 22, 2023
in News

New partnership will enable refinancing of 31 solar power plants with a capacity of 39 megawatts

National Bank of Fujairah
NBF & YDE Signing 2 (LR)

National Bank of Fujairah (NBF), a full-service corporate bank in the UAE, has today announced the signing of a facility agreement with Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East, Africa and South Asia.

In line with COP28’s objectives, the Year of Sustainability and the UAE’s Clean Energy Strategy 2050, the facility will refinance 31 operational solar power plants with a total capacity of 39 megawatts in the UAE.

Through this mutually beneficial partnership, Yellow Door Energy continues its commitment to provide solar leases and renewable energy expertise to commercial and industrial businesses, helping them significantly reduce energy costs and meet sustainability targets. For its part, National Bank of Fujairah continues to realise its Environmental, Social and Governance (ESG) commitments to the nation and expand its provision of services to businesses with strong financial foundations and sustainability goals.

Vince Cook, Chief Executive Officer of National Bank of Fujairah said: “NBF continues to support businesses in their ESG endeavours and contribute to the UAE’s COP28 ambitions and clean energy strategy. We welcome the signing of this facility agreement with Yellow Door Energy which is aligned with our goal of promoting lending to sustainable projects, entrepreneurs, and industries. We trust that through this partnership, Yellow Door Energy will continue its growth and strengthen its sustainability leadership with businesses in the UAE.”

Jeremy Crane, CEO of Yellow Door Energy, said: “We wholeheartedly applaud NBF and its leadership team for this visionary initiative, made especially meaningful during the Year of Sustainability. Yellow Door Energy was founded in the UAE, and today we reaffirm our commitment to the nation by signing this landmark agreement with NBF, one of the leading financial institutions in the country. We are honoured to continue providing sustainable, affordable and reliable electricity to leading businesses, contributing towards the UAE’s Net Zero by 2050 target.”

NBF recently announced year-on-year growth of 195.3% to close the year 2022, at a net profit of AED 340.4 million compared to AED 115.2 million in 2021. The bank is continuing to progress with a number of significant ESG initiatives and is maintaining an enhanced focus on environmental, social and governance activities, which remain fundamental for a sustainable future.

Yellow Door Energy also recently announced its successful completion of a USD 400 million capital raising to continue developing sustainable energy projects in the Middle East, Africa and beyond. By working with Yellow Door Energy, leading businesses can reduce their energy costs without any upfront investment, operational risk or expense, while maintaining focus on their core business and enjoying the benefits of clean, affordable energy.

Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!

Tags: BankNational Bank of FujairahPartnershipsSolar EnergyYellow Door Energy
ShareTweetShareSend

Related Posts

Saudi Arabia’s Logistics market size set to reach 57.4 billion SAR by 2030: Ministry of Transport and Logistics Services
News

Saudi Arabia’s Logistics market size set to reach 57.4 billion SAR by 2030: Ministry of Transport and Logistics Services

May 25, 2023
Suez 2 wind farm
News

500 MW Gulf of Suez 2 wind farm project achieves a major milestone in Egypt

April 14, 2023
Trina-Solar-and-Al-Raebi
News

Trina Solar and Al-Raebi Signed 500MW Deal for Yemen Market

March 28, 2023
Amazon Fulfillment Center
News

Amazon continues to invest in the UAE, opening a new Fulfillment Center in Dubai South

March 28, 2023
Please login to join discussion

Search

No Result
View All Result

Recent News

Rydezilla and Udrive Bahrain Collaborate to Redefine the Car Rental Experience

Rydezilla and Udrive Bahrain Collaborate to Redefine the Car Rental Experience

June 8, 2023
UAE Ministry of Energy and Infrastructure announces new standards for non-members of the IG P&I Clubs

UAE Ministry of Energy and Infrastructure announces new standards for non-members of the IG P&I Clubs

June 6, 2023
DC Aviation Al-Futtaim turns 10 this year

DC Aviation Al-Futtaim turns 10 this year

June 5, 2023

LogisticsGulfNews.com, the niche media portal designed for the industry, is deeply committed to representing, serving and promoting the interests of the logistics and supply chain businesses in the region

Recent News

  • Rydezilla and Udrive Bahrain Collaborate to Redefine the Car Rental Experience
  • UAE Ministry of Energy and Infrastructure announces new standards for non-members of the IG P&I Clubs
  • DC Aviation Al-Futtaim turns 10 this year

Contact Us

For Editorial Opportunities
editor@logisticsgulfnews.com

For Advertising Opportunities
info@logisticsgulfnews.com

AARYA Media FZC LLC
A- 5805-189, Business Club
Ajman Media City.
P.O Box 29127
Phone: +971 4 368 8464
Ajman- United Arab Emirates

  • About Us
  • Advertise
  • Subscription
  • Contact Us

©️ 2021 Logistics Gulf News. All rights reserved

No Result
View All Result
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LILS KSA Summit 2023
    • LILA UAE Awards 2022

©️ 2021 Logistics Gulf News. All rights reserved