Yellow Door Energy
Yellow Door Energy is a Dubai-based developer that finances, builds and operates solar plants on customers' premises in the Middle East and Africa. Actis became its controlling shareholder in October 2022.
Industry: Commercial and industrial solar power | Location: Dubai, United Arab Emirates | Founded: 2015 | Total Funding: USD 465M
About Yellow Door Energy
Yellow Door Energy is a Dubai-based developer of solar power for businesses. It builds, finances, designs, operates and maintains solar plants on the premises of commercial and industrial customers such as factories, offices, warehouses and malls. Customers pay a monthly bill rather than paying up front and typically take ownership of the plant at the end of a contract of 10 to 15 years, under a build-own-operate-transfer arrangement. Entrepreneur Middle East also reports energy storage and hybrid systems that combine solar with diesel or gas generators.
The company was established in Dubai in 2015 and set up operations in Jordan soon after. Adenium Energy Capital, a Dubai investment firm, was its founding investor. Jeremy Crane is co-founder and chief executive officer, titled Group CEO in November 2024, and earlier served as chief operating officer of Adenium. Nalin Nayyar was chief financial officer in 2022.
In May 2019 Yellow Door signed with Majid Al Futtaim to supply solar power to 28 Carrefour stores in Jordan through a 17-megawatt solar park. In October 2022 the company reported 106 megawatts in operation and 104 megawatts awarded or under construction, across the United Arab Emirates, Jordan, Pakistan, Saudi Arabia, Bahrain and South Africa. Customers it named then included Nestle, Majid Al Futtaim, DHL, Mondelez and Unilever. Entrepreneur Middle East later reported more than 240 megawatts awarded and projects in Oman.
In January 2019 the company raised USD 65 million from the International Finance Corporation, Mitsui, Equinor Energy Ventures, the Arab Petroleum Investments Corporation and Adenium. On 12 October 2022 it announced more than USD 400 million of equity, mostly from Actis, which became the controlling shareholder while the earlier investors exited or increased their commitments. The company said its five-year business plan was fully funded.
In November 2024 Emirates Development Bank announced an AED 100 million financing agreement with Yellow Door to fund more than sixty solar plants in the United Arab Emirates, according to SolarQuarter. Yellow Door is privately held and has not published revenue or profit figures in the sources read.
Leadership
- Jeremy Crane, Co-founder and Group Chief Executive Officer
- Jeremy Crane, Group CEO
- Wassef Sawaf, Chairman
- Nalin Nayyar, Chief Financial Officer
- Rory McCarthy, Chief Operating Officer