Emerge, the joint venture between Masdar and France’s EDF Group, has signed a Memorandum of Understanding (MoU) with Emirates Development Bank (EDB) to collaborate on developing and financing distributed solar energy projects throughout the UAE. The agreement reinforces both entities’ commitment to supporting the country’s energy transition and industrial competitiveness.
Strategic Collaboration for Renewable Growth
Under the agreement, Emerge will identify potential solar projects and present them to EDB for evaluation. EDB will, in turn, assess viable opportunities and explore bespoke financing solutions tailored to accelerate implementation.
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, commented on the initiative:
“Clean energy is one of the UAE’s biggest industrial enablers, and solar offers a clear opportunity for manufacturers, logistics operators, and SMEs to lower costs, improve resilience, and stay globally competitive. Through this partnership with Emerge, we’re focusing on practical solutions that combine technical capability with the kind of smart, flexible financing that accelerates execution. It’s an exciting model that supports the UAE’s energy transition while strengthening the foundations of industrial growth.”
Supporting Commercial and Industrial Sustainability
Mohamed Jameel Al Ramahi, CEO of Masdar, added:
“Emerge and EDB share a common commitment to supporting the UAE’s energy transformation, and to helping companies in the commercial and industrial sector to achieve their own clean energy objectives. Emerge’s flexible and client-centric approach enables companies to focus on their core business while reducing operational costs, and this partnership with EDB will help provide access to the financing needed to deliver on their sustainability goals. We look forward to working more closely with EDB on unlocking clean energy opportunities for UAE companies.”
Enabling the C&I Sector of Tomorrow
Luc Koechlin, CEO Middle East at EDF Group, echoed the importance of this public-private collaboration:
“The MoU between Emerge and EDB reflects the shared ambition to strengthen collaboration on infrastructure that supports the C&I business of tomorrow. By combining Emerge’s expertise in delivering innovative solutions with EDB’s financial support, we aim to enable and expand impactful clean energy projects—contributing not only to the nation’s sustainability objectives but also to resilience and efficiency.”
Aligning with UAE’s Net Zero Ambitions
The partnership is a strategic move in line with the UAE’s 2050 Net Zero goals. By providing access to tailored financing and technical solutions, EDB is reinforcing its role as a key catalyst in the country’s renewable energy ecosystem. The bank continues to empower businesses and entrepreneurs to adopt clean energy practices, fostering long-term sustainability and industrial innovation across the UAE.
