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January 29, 2019

Yellow Door Energy raises funds to boost solar investments

UAE-based Yellow Door Energy has raised Series A financing of $65m to boost its investments in solarpower and energy efficiency solutions in the Middle East and Africa.

UAE-based Yellow Door Energy has raised Series A financing of $65m to boost its investments in solarpower and energy efficiency solutions in the Middle East and Africa.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
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Yellow Door Energy is securing finance from International Finance Corporation, a World Bank member, Mitsui & Co, Equinor Energy Ventures, Arab Petroleum Investments Corporation, and Adenium Energy Capital.

The company helps commercial and industrial businesses reduce energy costs by providing them with solar leases and energy savings contracts.

Furthermore, they will be able to improve power reliability and reduce carbon emissions.

Yellow Door Energy CEO and Co-Founder Jeremy Crane said: “We aim to build 300MW  of solar in the next two years, benefitting hundreds of businesses and the broader economy.”

“We aim to build 300MW of solar in the next two years, benefitting hundreds of businesses and the broader economy.”

According to the company, this is one of the largest private placements in distributed solar in the Middle East and validates its vision of powering emerging economies sustainably.

Yellow Door Energy has a portfolio of customers, including multinational corporations in consumer goods, retail, and logistics.

Mitsui Second Projects Development Division general manager of third department Akihiro Shirane said: “Mitsui has been active and highly committed to developing infrastructure projects in the Middle East for decades, and we see the market shifting towards renewable energy for further sustainable growth in the region.

“This is an exciting milestone for Mitsui to enter into the distributed solar sector in the Middle East, and we strongly believe through its innovative business model and reliable solution, Yellow Door Energy will contribute to a clean, sustainable future in the region.”

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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