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IFC Invests $19m In Equity In Yellow Door Energy

The International Finance Corporation and the IFC Middle East and North Africa Fund, a fund managed by IFC Asset Management Company, LLC, are investing $19 million in equity in Yellow Door Energy.

Yellow Door Energy is a solar investor in the Middle East, Africa and South Asia, with $500 million of solar assets worldwide.

The IFC/AMC investment will support the deployment of lease-to-own rooftop and ground-mounted solar-power and energy-efficiency solutions to commercial and industrial customers in Jordan, UAE, and beyond.

The investment is part of a $65 million financing package that Yellow Door Energy is raising from a group of investors.

IFC will provide $5 million from its own account, and the IFC MENA Fund will invest $14 million.

The investment will help this leading solar-power developer expand operations into Pakistan, growing its presence across the Middle East beyond current markets of UAE and Jordan. 

Jeremy Crane, CEO and co-founder of Yellow Door Energy, commented: “The funding validates our company's vision of powering emerging economies reliably, efficiently, and sustainably. It enables us to scale our energy platform from the Middle East to Africa and Asia. We aim to build 300 megawatts of solar in the next two years, benefitting hundreds of businesses and the broader economy. We are excited that prestigious global investors believe in our company's credibility, commitment, and customer-centric offerings.”

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