UAE’s The National Bank of Fujairah and Yellow Door Energy ink agreement to refinance solar energy projects

The National Bank of Fujairah and Yellow Door Energy inked a facility agreement to refinance solar energy projects in the UAE, according to a statement. The MoU will refinance 31 operational solar energy stations in the UAE with a total capacity of 39 MW. The exact facility value was not disclosed, but it is said to be worth “multi-mn AED”. Yellow Door Energy recently completed a USD 400 mn funding round and will use the proceeds to develop sustainable energy projects in the Middle East and Africa.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Hitachi Energy will install the first charging infrastructure for electric truck fleets in the UAE. The single location infrastructure is expected to come online by the end of 2023 and will be used by fleet operators leasing electric trucks from the transport and mobility solutions group Mohamed Hareb Al Otaiba. (Statement)
• Egypt signed a knowledge transfer MoU with Chevron to tackle methane emissions and boost efforts to decarbonize its oil and gas sector. The country joined the Global Methane Pledge in 2022, committing to reduce methane generation by at least 30% of 2020 levels by the end of the decade. (Statement)
• Dubai’s Road and Transport Authority inaugurated their Transportation Research and Innovation Pavilion (Trip) at the University of Birmingham in Dubai this week. The research facility will focus on boosting the sustainability of Dubai’s mobility sector and providing support for Dubai-based transport startups. (Wam)