Yellow Door Energy closes 2020 with USD 41 million worth of new projects

by Dec 22, 2020

Yellow Door Energy, a solar energy provider for businesses in the Middle East, announced closing 2020 with USD 41 million worth of new projects in the region, including projects in the UAE, Jordan, Pakistan, Saudi Arabia, and Bahrain. In 2020, its operating projects generated 60 million kWh of clean energy. These projects provide affordable solar power to businesses without any upfront investment.

Specifically, the fourth quarter was a lucrative period for Yellow Door Energy, as it signed 15 MW of solar agreements worth over USD 10 million. Also, it secured a USD 50 million facility from APICORP (Arab Petroleum Investment Corp), one of its shareholders. Its other shareholders include Norway’s Equinor (which is a petroleum refining company) and Japan’s Mitsui Group (which covers energy, machinery, chemicals, food, textile, etc.) and the International Finance Corporation. Moving forward, the company plans to expand its footprint in the Middle East, South Asia, and Africa. Link to the news: