NBF, National Bank of Fujairah, a full-service corporate bank based in the UAE announced that it has signed a facility contract with Yellow Door Energy, a leading partner in sustainable energy for businesses in the South Asia and MENA region.
The facility will finance 31 solar power plants in operation with a combined capacity of 39 megawatts, in line with COP28’s goals, the UAE’s Clean Energy Strategy 2050, and the Year of Sustainability.
Yellow Door Energy and NBF continue to work together in a mutually beneficial partnership to provide solar leasing as well as renewable energy expertise for commercial and industrial companies, helping them to reduce their energy costs and reach sustainability goals. NBF, for its part, continues to fulfill its Environmental, Social, and Governance commitments to the country and expand its services to businesses with strong financial bases and sustainability goals.
Vince Cook, Chief Executive Officer of NBF 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.”
Yellow Door Energy recently completed a USD 400 million capital raising in order to continue developing energy projects in Africa, the Middle East, and elsewhere. Working with Yellow Door Energy allows leading businesses to reduce their energy costs while still focusing on their core business. They also enjoy the benefits of affordable, clean energy.