«Emerge», a joint venture between Abu Dhabi Future Energy Company «Masdar» and the French group «EDF», has announced a memorandum of understanding with the Emirates Development Bank to explore collaborative opportunities for the development and financing of solar energy projects within the country.
Under this agreement, «Emerge» will identify and present potential investment opportunities in renewable energy projects, while the Emirates Development Bank will assess these opportunities and provide tailored financing solutions to support their implementation.
Ahmed Al Naqbi, CEO of the Emirates Development Bank, stated: «Clean energy is a fundamental pillar for empowering the industrial sector in the UAE. Solar energy presents a strategic opportunity for manufacturers, logistics operators, and small and medium-sized enterprises to reduce costs, enhance operational efficiency, and strengthen global competitiveness.
Through this partnership with «Emerge», we are committed to delivering practical solutions that combine technical expertise with intelligent and flexible financing to expedite implementation. This collaboration will contribute to supporting the nation’s energy transition and bolster sustainable industrial growth».
Mohammed Al Ramahi, CEO of «Masdar», remarked: «The collaboration between Emerge and the Emirates Development Bank reflects our joint commitment to driving a transformative shift in the energy sector in the UAE and actively supporting industrial and commercial entities in achieving their sustainability objectives.
Emerge, with its flexible model tailored to client needs, provides integrated solutions that help companies reduce operational costs and focus on their core businesses and activities. Through this partnership with the Emirates Development Bank, we aim to offer innovative financing solutions that enable more companies to achieve their sustainability goals.
We look forward to expanding the horizons of this collaboration in a way that empowers various companies in the country to take advantage of the immense opportunities provided by clean energy». Luke Coulling, CEO for the Middle East at «EDF», added:
«This memorandum of understanding reflects our shared ambition to enhance cooperation in the infrastructure supporting the business and industrial sectors of the future. By combining «Emerge»’s expertise in providing innovative solutions with the financial support from «EDF», we aim to enable and expand clean energy projects that contribute not only to achieving national sustainability goals but also enhancing resilience and efficiency».