UK-based leading global investor in sustainable infrastructure, Actis has signed definitive transaction documents for the acquisition of a controlling stake in UAE-based Yellow Door Energy.
Yellow Door Energy is the leading distributed Commercial & Industrial (C&I) solar platform in the Middle East and Africa (MEA) region with around 200MW of secured production capacity.
The company said in a statement that “the closing of the transaction remains subject to obtaining the relevant regulatory approvals.”
The transaction will be funded through Actis’ Energy 5 Fund, Actis’ latest energy fund with $6 billion of investable capital to accelerate the Energy Transition globally.
Ms. Lucy Heintz, Partner and Head of Energy Infrastructure at Actis stated that, “We’re delighted to be contributing to the Middle East and Africa region’s transition away from fossil fuels by deploying new Solar PV technology, presenting an exciting opportunity to scale the business, and where we see a clear opportunity and large addressable market. Our strategy is to build the business into the region’s distributed solar sustainability leader.”
Actis noted that “it will apply its successful buy-and-build power strategy to scale the business and accelerate growth.” The team has invested in over 70 renewable energy projects to date, generating approximately 11GW of renewable energy globally.
“We are very happy about our partnership with Yellow Door Energy which is helping customers across MEA transition to Net Zero and reduce fossil fuel emissions. Actis is a signatory to the Net Zero Asset Managers Initiative which supports the goal of Net Zero emissions by 2050 and we recently announced our own portfolio-wide 2050 Net Zero target. We feel uniquely positioned to help Yellow Door Energy continue its growth journey across the Middle East and Africa region,” commented Ms. Shami Nissan, Partner and Head of Sustainability at Actis.
