Yellow Door Energy, Sustainable energy partner to deploy over US$1bn worth of projects in the region
Yellow Door Energy (YDE), the leading sustainable energy partner for businesses, recently announced the closing of a new equity raise to continue its development of sustainable energy projects in the Middle East, Africa and beyond.
Funding is substantially provided by YDE’s newest and now controlling shareholder, Actis, with existing shareholders International Finance Corporation (IFC), Mitsui & Co., and APICORP also increasing their equity commitments.
The closure of this landmark transaction, YDE’s business plan is fully funded and the management team is now focused on executing sustainable energy solutions over the next five years, with a portfolio value expected to exceed US $ 1bn, a press communique stated.
“This substantial investment will enable YDE to rapidly expand into new countries and deploy over US$ 1bn in projects across the region,” affirmed Jeremy Crane, CEO and Founder, Yellow Door Energy.
“With over US$ 400mn in equity expected, YDE is fully funded and well positioned for the next phase of the company’s growth.
We look forward to leveraging our shareholders’ expertise and benefiting from their continued synergies to add value to our business and customers,” asserted Nalin Nayyar, CFO, Yellow Door Energy.
“YDE is excited about the opportunity our partnership with Yellow Door Energy presents to contribute to the MEA region’s transition away from fossil fuels by deploying new solar PV technology. We see a clear opportunity to help Yellow Door Energy continue its growth journey and to build the region’s distributed solar sustainability leader,” commented Lucy Heintz, Partner, and Head of Energy Infrastructure, Actis.
Largest commercial portfolio
Ooperations in the UAE, Jordan, Pakistan, Saudi Arabia, Bahrain and South Africa, Yellow Door Energy has one of the largest commercial & industrial project portfolios in the region, with 106 megawatts in operation and 104 megawatts awarded and under construction.
Company has key existing relationships with a large customer base of over 50 companies, including multi-national businesses such as Nestlé, Majid Al Futtaim, DHL, Mondelēz, and Unilever.
The company’s mission is to be the sustainable energy partner of choice for leading businesses, helping them reduce costs and lower carbon emissions. This directly supports net zero emission targets set by countries and companies worldwide to mitigate the impacts of climate change, the press statement concluded.