Friday, October 7 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Oct 03
Week of Sep 26
Week of Sep 19
Week of Sep 12
Week of Sep 05
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Actis to take controlling stake in Dubai's solar platform Yellow Door Energy

    August 1, 2022 - SeeNews Renewables


      August 1 (Renewables Now) - Private equity firm Actis has struck a deal to acquire a controlling interest in Dubai-based solar platform Yellow Door Energy Ltd with over 200 MW of secured production capacity.

      Yellow Door Energy provides solar systems and energy efficiency solutions to commercial and industrial customers in the Middle 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 and targets to reach more than 1 GW of distributed solar and related energy solutions to customers in the region. The company's customer base includes more than 50 businesses such as Nestle, Majid Al Futtaim, DHL, Mondelez and Unilever.

      The transaction, whose financial details are confidential, is subject to regulatory approvals, Actis said on Friday.

      After the deal, Actis will seek to scale the business the speed up its growth to make Yellow Door Energy the region’s distributed solar sustainability leader.

      "This investment from Actis, complemented by increased investments from our current shareholders, Mitsui & Co., Ltd., APICORP, and IFC, is an attestation to the success of our company. [...] This investment will enable us to scale geographically through both direct and M&A activities,” said Yellow Door Energy's founder and chief executive Jeremy Crane.

      Energy 5 Fund, Actis’ energy fund that will finance the acquisition, has already invested in over 70 renewable energy projects to date, generating some 11 GW of green energy globally.

      In July, Actis and renewables developer Mainstream Renewable Power agreed to sell their African renewables platform Lekela Power to Infinity Group and Africa Finance Corporation (AFC) in a deal with an enterprise value of about USD 1.5 billion (EUR 1.47bn).

      (USD 1 = EUR 0.981)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.