Yellow Door Energy, a leading provider of lease-to-own energy efficiency solutions, said it has signed a 20-year lease agreement with Arabian Industrial Gases to provide solar power for its manufacturing facility in Dubai Investments Park.
This is Yellow Door Energy’s 10th solar lease in Dubai under the Shams Dubai net metering scheme, said a statement from the company.
The solar plant will generate over 850 MWh of clean energy in its first year of operation, enough to power 40 Dubai homes for a year. Switching to solar power will also help Arabian Industrial Gases reduces carbon dioxide emissions by almost 500 tons per year, it stated.
As the solar lease provider, Yellow Door Energy will finance, design, build, operate and maintain the solar plant for the next 20 years, after which the plant belongs to Arabian Industrial Gases, said a top official.
"We are proud to be working with Arabian Industrial Gases and look forward to forging a close relationship with the team. We hope that other manufacturers will follow their lead in joining the solar transition," remarked Jeremy Crane, the chief executive and co-founder of Yellow Door Energy.
The rooftop solar photovoltaic (PV) installation represents another important success under the Shams Dubai initiative, launched by the Dubai Electricity and Water Authority (Dewa) to encourage the adoption of solar energy generation in buildings and move the emirate one step closer to achieving the Dubai 2050 Clean Energy Strategy.
Sami Huneidi, the general manager of Arabian Industrial Gases, a subsidiary of the Gulf Cryo Groupm, said: "As a world-class industrial and medical gas company operating across 12 countries with a strong presence across the GCC, our decision to go solar at our Dubai-based facility was driven by our desire to help build a sustainable environment within the communities in which we operate."
"Yellow Door Energy’s solar lease provided us with the platform to address our sustainability goals, while reducing our utility bills in a competitive environment with rising costs. It was an easy decision to make," added Huneidi.