Yellow Door Energy Closes $400 Million New Equity to Advance its Projects in the Middle East, Africa and Asia
Yellow Door Energy (YDE), a partner in sustainable energy for businesses, has raised a $400 million new equity round to accelerate the growth of its sustainable energy projects in Africa, the Middle East, and other regions. Actis, YDE’s newest and current majority stakeholder, contributed the finance, and existing shareholders APICORP, Mitsui & Co., Ltd., and International Finance Corporation (IFC) all increased their stock commitments.
Serving commercial and industrial clients in the Middle East, Africa, and South Asia, Yellow Door Energy is the top sustainable energy partner for companies. Businesses can minimize energy expenses, increase power reliability, and reduce carbon emissions thanks to the company’s solar and energy efficiency solutions. Actis, the International Finance Corporation (IFC), Mitsui, and APICORP are the shareholders of Yellow Door Energy.
The management team is now focused on implementing sustainable energy solutions over the next five years, with a portfolio value expected to exceed $1 billion, which will be funded through a combination of equity and debt securities. With the completion of this historic transaction, YDE’s business plan is fully funded.
The management team is now focused on implementing sustainable energy solutions over the next five years, with a portfolio value expected to exceed $1 billion, which will be funded through a combination of equity and debt securities. With the completion of this historic transaction, YDE’s business plan is fully funded.
Jeremy Crane, CEO and Founder of the company noted that the significant investment will enable Yellow Door Energy to swiftly grow into new nations and deploy over $1 billion in projects across the region.
“This substantial investment will enable us to rapidly expand into new countries and deploy over $1 billion in projects across the region. We wholeheartedly welcome Actis as our majority shareholder and look forward to a fruitful collaboration. We would also like to express our gratitude to our existing shareholders – IFC, Mitsui and APICORP – for their continued investment and support for our business model of providing affordable, reliable and sustainable energy to visionary companies in the MEA region and beyond,” said Crane.
“Our shareholders understand the importance of patient capital when investing in sustainable long-term infrastructure projects. With over $400 million in equity expected, Yellow Door Energy is fully funded and well-positioned for the next phase of the company’s growth. We look forward to leveraging our shareholders’ expertise and benefiting from their continued synergies to add value to our business and customers,” said Nalin Nayyar, CFO, Yellow Door Energy.
Lucy Heintz, Partner and Head of Energy Infrastructure at Actis said: “We’re excited about the opportunity our partnership with Yellow Door Energy presents to contribute to the MEA region’s transition away from fossil fuels by deploying new solar PV technology. We see a clear opportunity to help Yellow Door Energy continue its growth journey and to build the region’s distributed, solar sustainability leader.”
With 106 megawatts in service and 104 megawatts granted and under development, Yellow Door Energy has one of the largest commercial and industrial project portfolios in the area. Over 50 firms make up the company’s enormous customer base, which includes multi-national corporations like Nestlé, Majid Al Futtaim, DHL, Mondelez, and Unilever. The company’s goal is to become the top sustainable energy partner for forward-thinking companies, assisting them in cost and carbon emission reductions. This directly supports the net zero-emission goals established by nations and businesses around the world to lessen the effects of climate change.