< PreviousYELLOW DOOR ENERGY EXPANDS SOLAR FOOTPRINT IN THE MIDDLE EAST AND AFRICA Yellow Door Energy continues to cement its leadership in the Middle East and Africa’s solar energy sector, offering businesses sustainable energy solutions through innovative solar leases and power purchase agreements (PPAs). With a focus on helping commercial and industrial customers transition to renewable energy, the company has expanded its portfolio through both organic growth and strategic acquisitions. In recent developments, Yellow Door Energy commissioned 14 new solar power plants across the UAE, Bahrain, and Oman, adding 20 megawatts-peak (MWp) to its already robust portfolio. Additionally, the acquisition of five operating projects in Oman, with a total capacity of 3.5 MWp, reinforces Yellow Door Energy’s commitment to supporting the region’s clean energy goals. The company’s growth is backed by significant financial support. After raising $400 million in equity in 2022, Yellow Door Energy secured an additional $28 million in debt financing in 2024, ensuring continued investment in solar projects and helping businesses reduce electricity costs without the need for upfront capital expenditure. CEO Jeremy Crane highlighted the company’s recent achievements, saying, “In the first six months of 2024, we added 19 solar power projects across three countries to our operational portfolio. Our rapid execution and delivery are a testament to seamless collaboration among our team members and contractors, and the support of ambitious governmental Net Zero targets. I extend my sincere thanks to all who have worked tirelessly to accelerate the Just Transition. This is only the beginning, as we have numerous projects planned for construction throughout the rest of 2024.” Yellow Door Energy’s solar projects now exceed 240 MWp in various stages of development. The company’s focus on solar leasing and PPAs offers a flexible, cost-effective way for businesses to transition to renewable energy. By eliminating the need for upfront capital, these financial models enable customers to immediately benefit from reduced energy costs while contributing to their environmental sustainability goals. The new solar power plants feature over 46,000 solar panels, including rooftop, ground-mounted, and carport installations. The construction process required more than 260,000 person-hours and was completed with no recordable incidents, underscoring the company’s stringent commitment to health, safety, security, and environmental (QHSSE) standards. To date, Yellow Door Energy’s projects have generated 693,000 megawatt- hours of clean electricity, reducing carbon emissions by 484,000 metric tons. This is the equivalent of powering 34,000 Dubai homes or charging 380,000 smartphones for a year, making a tangible contribution to the Net Zero strategies of Gulf countries. By Dean Mikkelsen Jeremy Crane, CEO, Yellow Door Energy 50 October 2024 www.utilities-me.com PARTNER CONTENT UME_Oct2024_50_Yellow Door_13397524.indd 5027/09/2024 12:42Meet BlueEdge Custom solutions delivering the future of water management Discover your edge at badgermeter.com/WETEX2024 or visit booth 6-E5 during WETEX 2024 Untitled-6 126/09/2024 20:01Next >