Yellow Door Energy, a UAE-based renewable energy developer, secured $31.2 million in loans from multilateral lenders for the development of solar projects in Jordan.
The European Bank for Reconstruction and Development (EBRD) and German Investment Corporation (DEG) have agreed to provide $10.6m in local currency for the development of eight solar photovoltaic plants in Jordan.
The EBRD financing is backed by a loan of up to $5m provided by the Global Environment Facility as well as a parallel $15.6m senior loan in local currency from the DEG as well as an equity contribution from Yellow Door Energy.
Spain, through the European Union, will also provide results-based payments of up to €1.5m as well as technical assistance.
The solar PV plants under development will supply all the power needs of Umniah, Carrefour supermarkets, Safeway supermarkets and Taj Mall, as well as Classic Fashion.
"In total, 48.3 megawatts per hour of renewable energy capacity will be added to Jordan’s power system, generating over 81 gigawatts per hour of renewable electricity per year during the lifetime of the project," the company said in a statement.
The scheme is expected to lower carbon dioxide emissions by more than 49,000 tonnes annually.
The development will be the largest such portfolio of projects serving solar power to private entities under Jordan's regulations, allowing customers to establish and lease or own their own renewable energy plants.
HSBC acted as the offshore bank and security agent, while Arab Bank was the onshore bank and security agent.
Yellow Door Energy operates solar photovoltaic projects in the UAE, Saudi Arabia, Egypt, Jordan and Pakistan and has clean energy assets worth $100m.
The company, which was spun-off from Middle East-focused solar energy investor Adenium Energy Capital in 2015, counts the International Finance Corporation, Mitsui & Co, Norway's Equinor Energy Ventures and Dammam-based Arab Petroleum Investments Corporation (Apicorp) among its investors.
In an interview with The National in January, chief executive Jeremy Crane said the firm plans to add $100m worth of renewable energy assets this year, as it looks to grow its portfolio to $1 billion by 2025.
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Results
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Top Hundred overseas picks
London Spirit: Kieron Pollard, Riley Meredith
Welsh Fire: Adam Zampa, David Miller, Naseem Shah
Manchester Originals: Andre Russell, Wanindu Hasaranga, Sean Abbott
Northern Superchargers: Dwayne Bravo, Wahab Riaz
Oval Invincibles: Sunil Narine, Rilee Rossouw
Trent Rockets: Colin Munro
Birmingham Phoenix: Matthew Wade, Kane Richardson
Southern Brave: Quinton de Kock
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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NATIONAL%20SELECTIONS
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Company%20Profile
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Sholto Byrnes on Myanmar politics
Where to buy
Limited-edition art prints of The Sofa Series: Sultani can be acquired from Reem El Mutwalli at www.reemelmutwalli.com
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
Company%20profile
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
