UAE clean energy firm signs $41 M deal
UAE, Abu Dhabi: Yellow Door Energy CEO says company continued to deliver strong performance during coronavirus crisis.
Image source: Arabian Business Industries
UAE, Abu Dhabi: Yellow Door Energy CEO says company continued to deliver strong performance during coronavirus crisis.
UAE-based Yellow Door Energy has announced new renewables projects worth $41 M (AED150 M) in the region, including Jordan, Pakistan, Saudi Arabia, Bahrain and its home market.
The projects come as the company’s operating projects generated 60 GWh of clean energy this year, equivalent to reducing carbon emissions by 36 million kilograms or planting 600,000 trees.
Jeremy Crane, CEO and co-founder of Yellow Door Energy, said: “Despite unfavourable economic conditions around the globe caused by the Covid-19 situation, we persevered and continued to deliver a strong performance across the region in 2020. This is yet another testimony that sustainability is a top priority for businesses, communities, and governments, and more so during a global crisis.
The fourth quarter was a particularly busy period for Yellow Door Energy, as it signed 15 MW of solar agreements worth more than $10 M of investment. It also secured a $50 M facility from APICORP, one of its shareholders and Crane said the company is poised for exponential growth as it eyes expansion plans in the Middle East, South Asia and Africa.
Source: Arabian Business Industries