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DEBT WATCH-
EDB finances YDE’s solar projects: Emirates Development Bank (EDB) signed a USD 27 mn financing agreement with Yellow Door Energy (YDE) to support the development and operation of over 60 solar plants across the UAE, according to a statement. Yellow Door will use the funds to lease solar power plants through solar leases — also known as power purchase agreements — to industrial firms.
Part of EDB’s strategy? The lender was planning in May to provide AED 30 bn (c. USD 8.2 bn) in financing to over 13.5k companies for renewable energy and food security, amongst other industries, by 2026. EDB also signed an agreement with the International Renewable Energy Agency to extend AED 1.3 bn (c.USD 350 mn) in financing to support Irena’s Energy Transition Accelerator Financing platform last year.
DATA CENTERS-
Beeah, Khazna, SCTA team up to launch the largest Tier III data center in Sharjah: Beeah Group partnered with Khazna Data Center and the Sharjah Communication Technologies Authority (SCTA) to set up the largest Tier III data center at the Sharjah Freezone for Communication Technologies in Kalba, among other data centers across the emirate, according to Wam. Khazna Data Centres will develop the facilities, while the SCTA will provide regulatory support, allocate land, and establish energy infrastructure.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- UM6P + EPFL partner on green energy research: The Mohammed VI Polytechnic University (UM6P) and Switzerland’s École Polytechnique Fédérale de Lausanne (EPFL) signed an agreement to enhance their collaboration on green energy research. The partnership aims to address energy challenges through innovative and sustainable solutions. (Morocco World News)
