Towards net zero: NBF and Yellow Door Energy sign multi-million dirham agreement to finance solar projects in the UAE

Towards net zero: NBF and Yellow Door Energy sign multi-million dirham agreement to finance solar projects in the UAE

National Bank of Fujairah (NBF), a full-service corporate bank in the UAE, has today announced the signing of a facility agreement with Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East, Africa and South Asia.

In line with COP28’s objectives, the Year of Sustainability and the UAE’s Clean Energy Strategy 2050, the facility will refinance 31 operational solar power plants with a total capacity of 39 megawatts in the UAE.

Through this mutually beneficial partnership, Yellow Door Energy continues its commitment to provide solar leases and renewable energy expertise to commercial and industrial businesses, helping them significantly reduce energy costs and meet sustainability targets. For its part, NBF continues to realise its Environmental, Social and Governance (ESG) commitments to the nation and expand its provision of services to businesses with strong financial foundations and sustainability goals.

Vince Cook, Chief Executive Officer of NBF said: “NBF continues to support businesses in their ESG endeavours and contribute to the UAE’s COP28 ambitions and clean energy strategy. We welcome the signing of this facility agreement with Yellow Door Energy which is aligned with our goal of promoting lending to sustainable projects, entrepreneurs, and industries. We trust that through this partnership, Yellow