Emerge, a joint venture between Masdar and the EDF Group, and Emirates Development Bank (EDB), the UAE’s key financial engine for economic diversification and industrial transformation, have signed an agreement to explore areas of collaboration in developing and financing distributed solar projects in the UAE.

Under the Memorandum of Understanding, Emerge will identify and present potential financing opportunities for renewable energy projects, which EDB will evaluate and explore possible tailored financing solutions.

Through its tailored financing solutions and strategic support, EDB continues to drive innovation, foster business growth, and support the UAE's journey toward achieving its Net Zero ambitions. As the nation moves towards a sustainable energy future, EDB remains committed to empowering businesses and entrepreneurs, ensuring the long-term success of the UAE’s renewable energy sector.

Emerge was formed in 2021 to develop distributed solar, battery storage, off-grid solar and hybrid solutions 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.