Actis has agreed to acquire a majority stake in a Dubai-based commercial and industrial (C&I) solar provider with a presence in the Middle East and Africa. The leading emerging markets investment firm is backing 2015-founded Yellow Door Energy with an undisclosed amount of capital via its latest renewable energy fund, Actis Energy 5, which closed with $6 billion late last year. The transaction will close once the necessary regulatory approvals have been granted.
According to Jeremy Crane, Yellow Door Energy’s founder and CEO, the investment will help the business scale both organically and through acquisitions. Today, Yellow Door Energy has a little over 200MW of solar capacity either in operation or under development. The company has already sold its services to more than 50 organizations, several of which are well-known blue-chip companies such as Nestlé, Majid Al Futtaim, DHL, Mondelēz, and Unilever. Actis plans to leverage the experience and networks it has built from investing in more than 70 renewable energy projects globally to help Yellow Door Energy’s management scale the business rapidly in the Middle East and Africa.
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