Yellow Door (IFC-39802)

Countries
  • Jordan
  • United Arab Emirates
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
YELLOW DOOR ENERGY LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 14, 2019

Disclosed by Bank Sep 20, 2018

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC website, the Yellow Door Energy has a portfolio of projects under development with major clients in UAE and Jordan, and is actively exploring opportunities to invest in similar projects in growth markets in the Middle East, Africa and South Asia regions. The Company is seeking equity funding from IFC and a group of other investors to implement these projects and execute its pipeline. The proposed project is expected to have the following development results: 

1. Stakeholders impacts. The project will enhance affordability and serve towards ensuring cost efficiency for off-takers by introducing distributed generation systems.

2. Environmental impact. The project will contribute to reduction of GHG emissions

3. Enhancing Resilience. The project will contribute to increased resilience in the power market, especially in Jordan and growth market areas, where power generation is heavily dependent on fossil fuel.

4. Enhancing competitiveness. The Project will help demonstrate the viability of distributed renewable energy generation as a disruptive technology in growth markets

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

YDE is majority owned by Adenium Energy Capital, an existing IFC client and a developer of renewable energy projects in the Asia, Middle East and Africa region and Mr. Jeremy Crane, its current CEO.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Yellow Door Energy Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Contact: Jeremy Crane
CEO, Yellow Door Energy 
Telephone No.: +971 4 454 3033
Email Address: contact@yellowdoorenergy.com
Office Address: Suite 2106 Jumeirah Business Centre 1, Jumeirah Lakes Towers, Cluster G, Dubai, UAE
Website: www.yellowdoorenergy.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works