Yellow Door Energy says it recorded $41 million worth of new projects in the region during 2020.
Projects included initiatives in the UAE, Jordan, Pakistan, Saudi Arabia and Bahrain and the company’s operating projects generated 60 million kilowatt-hours of clean energy.
This is the equivalent to reducing carbon emissions by 36 million kilograms or planting 600,000 trees, the firm said in a statement.
It added that the “achievement comes in line” with the company’s vision to power emerging economies reliably, efficiently and sustainably.
The projects, which provide affordable solar power to businesses without any upfront investment, also contribute to local sustainability goals in their respective countries, as well as to creating new job opportunities and enhancing economy in local communities.
“Despite unfavorable economic conditions around the globe caused by the COVID-19 situation, we persevered and continued to deliver a strong performance across the region in 2020,” said Jeremy Crane, CEO and co-founder of Yellow Door Energy, said. “This is yet another testimony that sustainability is a top priority for businesses, communities, and governments, and more so during a global crisis.
“Our mission is to contribute to sustainability goals set by our customers, and to strategies and polices set forth by forward-thinking governments. In the UAE, we are proud to contribute to the UAE Energy Strategy 2050, an ambitious strategy that is set to change the energy sector in the country and the wider region.”
According to the company, the fourth quarter was a particularly busy with 15 megawatts of solar agreements worth more than $10 million of investment signed off.
Having also secured a $50 million facility from shareholder APICORP, the company said it is, “poised for exponential growth as it eyes expansion plans in the Middle East, South Asia and Africa.”