Arab Petroleum Investments Corporation (Apicorp) said on Wednesday $97 billion of the $237 billion investment required in the power sector of the Middle East North Africa region over the next five years will be in the renewables sector. Yellow Door Energy currently has over 110 megawatts of solar assets operating and under construction in the UAE, Jordan, and Pakistan, with recent expansions into Saudi Arabia, Bahrain, and Oman. Yellow Door Energy is one of Apicorp’s investee companies and in 2019 the corporation and a consortium of international and regional banks invested $65 million in Yellow Door Energy to scale up investments in solar energy and efficiency solutions in emerging markets. He said the revolving construction facility demonstrates Apicorp’s commitment to accelerate sustainable energy transition in the region. “Yellow Door Energy is pleased to be working with Apicorp again to propel our mission to provide low cost, reliable and sustainable energy solutions to businesses across Mena.”

Source: The North Africa Journal November 26, 2020 03:02 UTC