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FinancialNews
16-02-19
APICORP to invest in UAE solar power developer
(MENAFN) UAE's Series A shares of Yellow Door Energy is set to receive investments valued at USD65 million from the Arab Petroleum Investments Corporation (APICORP).
Under the investment, the UAE solar power developer will be allowed to make growing efforts in boosting the capacity of solar energy to 300MW in two years.
"The solar energy market still has significant untapped potential within MENA, with companies like Yellow Door Energy achieving major breakthroughs in leveraging opportunities to meet the region's growing demand for power," stated CEO of APICORP Ahmed Ali Attiga.
"We will continue to focus on alternative energy projects in our portfolio and support the region's transition towards a sustainable energy future," Attiga added.
MENAFN1602201900450000ID1098127501
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