Emerge, a joint venture between Masdar and the EDF Group, has signed a Memorandum of Understanding with Emirates Development Bank (EDB) to explore collaboration in developing and financing distributed solar projects across the UAE.
Under the agreement, Emerge will identify and present potential renewable energy projects for consideration, while EDB will assess these opportunities and explore tailored financing solutions. Through strategic funding and support, EDB aims to foster business growth, drive innovation, and contribute to the UAE’s Net Zero ambitions. This partnership reinforces both entities’ commitment to advancing the nation’s transition to a sustainable energy future and strengthening the renewable energy sector. “Emerge and EDB share a common commitment to supporting the UAE’s energy transformation, and to helping companies in the commercial and industrial sector to achieve their own clean energy objectives. Emerge’s flexible and client-centric approach enables companies to focus on their core business while reducing operational costs and this partnership with EDB will help provide access to the financing needed to deliver on their sustainability goals. We look forward to working more closely with EDB on unlocking clean energy opportunities for UAE companies.” said Mohamed Jameel Al Ramahi, CEO, Masdar.
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