Yellow Door Energy has raised $400 million in a new funding round led by British private equity company Actis, the Dubai company’s largest stakeholder, as it plans expansion into new markets.
The World Bank’s International Finance Corporation (IFC), Japan’s Mitsui, and Saudi Arabia’s Arab Petroleum Investments Corporation (Apicorp), also increased their shareholding in Yellow Door Energy, which continues to develop sustainable energy projects in the Middle East and Africa.
Yellow Door Energy, which was spun off from the Middle East-focused solar energy investor Adenium Energy Capital in 2015, operates solar photovoltaic projects in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan, and Pakistan.
In the region, the company has key existing relationships, with a large customer base of more than 50 organizations, including blue-chip businesses such as Nestlé, Majid Al Futtaim, DHL, Mondelez and Unilever.