Emerge, a joint venture between Masdar and the EDF Group, and Emirates Development Bank (EDB) have signed a Memorandum of Understanding (MOU) to explore collaboration in developing and financing distributed solar projects in the UAE. The agreement was announced on August 7, 2025.

Partnership Framework and Objectives

Under the Memorandum of Understanding, Emerge will identify and present potential financing opportunities for renewable energy projects to EDB. The Emirates Development Bank will then evaluate these opportunities and explore possible tailored financing solutions for the proposed projects.

The collaboration focuses specifically on distributed solar projects within the UAE market, targeting the commercial and industrial sector. Emirates Development Bank serves as the UAE's key financial engine for economic diversification and industrial transformation.

Leadership Perspectives on Clean Energy Development

His Excellency Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, emphasized the industrial significance of clean energy initiatives. He stated that clean energy represents one of the UAE's biggest industrial enablers, with solar power offering clear opportunities for manufacturers, logistics operators, and small and medium enterprises to lower costs, improve resilience, and maintain global competitiveness.

Al Naqbi described the partnership as focusing on practical solutions that combine technical capability with smart, flexible financing to accelerate project execution. He characterized the collaboration as an exciting model that supports the UAE's energy transition while strengthening the foundations of industrial growth.

Mohamed Jameel Al Ramahi, CEO of Masdar, highlighted the shared commitment between Emerge and EDB in supporting the UAE's energy transformation. He noted that both organizations aim to help companies in the commercial and industrial sector achieve their clean energy objectives.

Al Ramahi explained that Emerge's flexible and client-centric approach enables companies to focus on their core business while reducing operational costs. He expressed that the partnership with EDB will help provide access to the financing needed for companies to deliver on their sustainability goals, and looked forward to working more closely with EDB on unlocking clean energy opportunities for UAE companies.

EDF Group's Regional Strategy

Luc Koechlin, CEO Middle East for EDF Group, described the MoU as reflecting a shared ambition to strengthen collaboration on infrastructure that supports the commercial and industrial business of tomorrow. He stated that by combining Emerge's expertise in delivering innovative solutions with EDB's financial support, the partnership aims to enable and expand impactful clean energy projects.

Koechlin noted that these projects would contribute not only to the nation's sustainability objectives but also to business resilience and efficiency. The collaboration represents EDF Group's commitment to the regional clean energy transition through strategic partnerships.

Company Background and Current Operations

Emerge was established in 2021 to develop distributed solar, battery storage, off-grid solar and hybrid solutions specifically for commercial and industrial clients. The company currently supplies clean electricity to more than 40 commercial, industrial, educational and hospitality sites across the GCC region.

Emirates Development Bank continues to drive innovation and foster business growth through its tailored financing solutions and strategic support. The bank maintains its commitment to supporting the UAE's journey toward achieving its Net Zero ambitions and remains dedicated to empowering businesses and entrepreneurs to ensure the long-term success of the UAE's renewable energy sector.

The partnership represents a strategic alignment between Emerge's project development capabilities and EDB's financing expertise, targeting the expansion of distributed solar solutions across the UAE's commercial and industrial landscape. As the nation advances toward a sustainable energy future, this collaboration aims to provide the technical and financial infrastructure necessary to accelerate renewable energy adoption in the business sector.

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