Emirates Development Bank Partners with Yellow Door Energy in AED 100 Million Agreement to Propel UAE’s Solar Energy Expansion

Emirates Development Bank (EDB) has committed AED 100 million in financing to Yellow Door Energy (YDE) to accelerate the development of more than 60 solar photovoltaic (PV) plants across the UAE. This financing agreement, announced today, aims to enhance the sustainable energy landscape for industrial and commercial sectors nationwide.

Through this partnership, YDE will expand its leasing of solar PV systems, allowing businesses to access solar power through power purchase agreements (PPAs). Targeted at major industrial players, these solar leases are expected to deliver long-term energy cost savings while promoting the shift to renewable energy.

Ahmed Mohamed Al Naqbi, CEO of EDB, emphasized the significance of the collaboration, stating, “Our partnership with Yellow Door Energy represents a new milestone in our mission to boost the UAE’s renewable energy infrastructure and support its journey to a net-zero future. Financing sustainable growth is a core part of EDB’s commitment to economic diversification and national development.”

Jeremy Crane, Group CEO of Yellow Door Energy, remarked on the impact of the financing, highlighting YDE’s commitment to the UAE’s sustainability goals. “This collaboration significantly enhances our ability to deploy solar solutions and support businesses in achieving Net Zero targets,” said Crane.

The financing from EDB is set to empower UAE businesses to reduce carbon emissions, aligning with the nation’s green energy priorities and setting a strong example of public-private collaboration for economic and environmental progress.