Actis to take regulating stake in Dubai's solar platform Yellow Door Energy
- Private equity company Actis has actually struck a deal to obtain a controlling interest in Dubai-based solar platform Yellow Door Energy Ltd with over 200 MW of protected manufacturing capacity.
Yellow Door Energy offers solar systems and energy effectiveness remedies to commercial and also commercial customers between East and South Asia. It has a portfolio of 106 MW of solar capacity in operation, 104 MW of awarded projects and plants under construction as well as targets to reach more than 1 GW of dispersed solar as well as associated energy options to customers in the region. The firm's customer base includes greater than 50 businesses such as Nestle, Majid Al Futtaim, DHL, Mondelez and also Unilever.
The purchase, whose monetary information are private, goes through regulative approvals, Actis stated on Friday.
After the deal, Actis will look for to scale the business the quicken its growth to make Yellow Door Energy the region's dispersed solar sustainability leader.
"This investment from Actis, matched by boosted investments from our existing investors, Mitsui & Co., Ltd., APICORP, and IFC, is an attestation to the success of our company. [...] This investment will enable us to scale geographically with both straight and also M&A tasks," said Yellow Door Energy's founder and also president Jeremy Crane.
Energy 5 Fund, Actis' energy fund that will certainly fund the acquisition, has actually currently invested in over 70 renewable energy projects to date, creating some 11 GW of green energy globally.
In July, Actis as well as renewables programmer Mainstream Renewable Power consented to market their African renewables platform Lekela Power to Infinity Group and also Africa Finance Corporation (AFC) in a manage an enterprise value of regarding USD 1.5 billion (EUR 1.47 bn).м