Yellow Door Energy, a Dubai-based solar developer this week said it raised $65 million to fund an expansion effort in the energy sector in the Middle East and Africa. The $65 million amount will be used to scale investments in solar energy and energy efficiency solutions in the Middle East and Africa, the company said. In North Africa, Egypt, Algeria, Tunisia, and Morocco have invested tens of billions of dollars in renewable energy projects –particularly solar power — as a springboard to drive their energy ambitions. Estimates of annual investments required on the continent for the power sector between 2015 and 2040 range from $33.4 billion to $63 billion. The average annual spending in the past decade in the African power sector stood at about $12 billion.

Source: The North Africa Journal January 30, 2019 14:03 UTC