Yellow Door Energy elevates USD 400m to fund company strategy

• Dubai-based solar platform Yellow Door Energy Ltd (YDE) has shut a USD-400-million (EUR 412.2 m) equity raise, securing the funding needed to fully fund its organization prepare for the next five years.

"This substantial financial investment will make it possible for Yellow Door Energy to rapidly broaden right into new countries and deploy over USD 1 billion in projects across the region," the business's chief executive officer and also founder Jeremy Crane noted in a news release on Wednesday.

The fresh resources attracted was offered mainly by YDE's newest and currently managing investor Actis. The UK-based growth markets financier struck a deal to acquire a managing passion in YDE at the end of July.

Existing backers International Finance Corporation (IFC), Mitsui & Co Ltd as well as APICORP additionally took part in the funding round, boosting their equity dedications. The fund-raising purchase likewise saw the sale of existing shares, allowing first financiers to capitalize their bets.

Established in 2015, Yellow Door Energy runs a portfolio of 106 MW in operation as well as 104 MW awarded and incomplete. The business is active in the UAE, Jordan, Pakistan, Saudi Arabia, Bahrain and also South Africa, maintenance over 50 business, such as Nestle, Majid Al Futtaim, DHL, Mondelez and also Unilever.