Yellow Door Energy looks to raise $100m to fund renewables projects – The National

Yellow Door Energy looks to raise $100m to fund renewables projects – The National

Yellow Door Energy looks to raise $100m to fund renewables projects. The Dubai-based renewables company is working on $110m worth of projects in 2020. Dubai-based Yellow Door Energy, which is backed by multilateral lenders including the International Finance Corporation, is looking to raise $100 million (Dh367m) in debt to finance renewable projects as it remains bullish on the sector's prospects.. The company, which already has a presence in Jordan, Bahrain, Saudi Arabia and Egypt, is likely to take an 18 per cent hit to its revenues for 2020 as a result of the Covid-19 pandemic, chief executive Jeremy Crane told The National in an interview, but expects demand for renewables to remain resilient.. The firm plans to reach 100MW of capacity by year end and is looking to raise "approximately $100m in debt" for various projects from different banks, Mr Crane said.. Yellow Door Energy, which was spun-off from Middle East-focused solar energy investor Adenium Energy Capital in 2015, counts the International Finance Corporation, Mitsui & Co, Norway's Equinor Energy Ventures and Dammam-based Arab Petroleum Investments Corporation (Apicorp) among its investors.. Most projects are now back on track, and although timelines have been pushed back, none are facing completion risks,