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Yellow Door Energy strengthens market leadership with 19 new solar power plants
Yellow Door Energy , a leading sustainable energy partner for businesses in the Middle East and Africa , successfully commissioned 14 solar power plants across the UAE , Bahrain and Oman , adding 20 megawatts-peak ( MWp ) to its rapidly expanding portfolio . Additionally , Yellow Door Energy acquired five operating projects in Oman with a total capacity of 3.5 MWp , further solidifying its leadership position in the region .
In the first half of 2024 , Yellow Door Energy also raised US $ 28 million in debt financing , which will allow the company to further its commitment to providing solar leases and renewable energy solutions to commercial and industrial businesses . This latest funding builds on the company ’ s successful US $ 400 million in equity raised in 2022 , which supports the ongoing development of sustainable energy projects across the Middle East and Africa .
With over 240 MWp of projects in various stages of operation , construction and planning , Yellow Door Energy has consolidated its position as the top solar company in the region . The projects are developed through innovative solar leases or power purchase agreements ( PPAs ), enabling business owners to transition to solar power and significantly reduce electricity costs without incurring any upfront capital expenditure .
The new solar power plants feature 46,000 solar panels , utilising rooftop solar , ground-mounted solar and carport solar applications . More than 260,000 person-hours were dedicated to constructing the solar power plants , all completed with zero recordable incidents .
This achievement highlights Yellow Door Energy ’ s commitment to rigorous quality , health , safety , security and environmental ( QHSSE ) practices and their strict implementation across all its projects .
UAE retail investors satisfied with their financial education yet seek more guidance from financial institutions platforms to take the lead on financial education . In comparison , 45 % feel it is the individual ’ s responsibility whilst others believe it lies with universities ( 41 %), schools ( 32 %), the media ( 31 %) and family ( 30 %).
The data also underscored a significant gap in financial education during schooling years , with a considerable 87 % of respondents expressing a wish that they had received financial education in school , pointing to a perceived shortfall in early financial literacy . majority of UAE retail investors ( 67 %) express high levels
A of satisfaction with the financial education resources currently available to them , according to new data from trading and investing platform , eToro . However , a desire for more comprehensive financial education has emerged , with UAE retail investors expecting financial institutions to take the lead .
In the survey of 1,000 UAE retail investors , nearly half ( 47 %) said that they expect financial entities such as banks and investment
Currently , when it comes to gathering information for investment decisions , social media platforms are at the forefront , with 40 % of respondents using them as a primary source . This is followed by Google searches ( 34 %) and financial courses ( 33 %). Personal recommendations from friends and family also play a significant role , with 33 % of investors relying on them .
“ The UAE ’ s rapid economic growth has created a dynamic environment for wealth generation and having a well-informed investor base is crucial for sustaining this momentum ,” said Jason Hughes , Senior Executive Officer at eToro Middle East .
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