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$105 million loans granted to 8 developing countries


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Abu Dhabi: A total of eight renewable energy projects across the world will be granted a total of $105 million (Dh385 million) by the Abu Dhabi Fund for Development (ADFD).

The announcement was made in the capital on Sunday during the second day of the 10th International Renewable Energy Agency (Irena) general assembly.

With this grant, the total amount of funding provided by the ADFD as part of its initiative with Irena – the Irena/ADFD Facility – has reached its proposed end, and Saif Al Suwaidi, ADFD director general, said the organisation is proud to have supported the deployment of renewable energy solutions worldwide over several years. The facility was launched in 2014, with the aim of providing $350 million (Dh1,285 million) towards renewable energy projects over seven cycles.

Speaking to Gulf News on the sidelines, Al Suwaidi said he was sure the organisation would find a way to help support more renewable energy projects in the future.

“Looking back at this facility and its work, [it is clear that] we have fulfilled the mandate of the ADFD to support developing countries. We’ve penetrated through to small, remote villages and helped [provide electricity], even though they could not be connected to their national grids, and this brought along benefits in education, healthcare and many other fields,” Al Suwaidi explained.

“Given all these benefits, I’m sure we will find a way in future to work together [with Irena]. We are now evaluating results of these projects, and hopefully we will meet with Irena very soon to plan the way forward,” he added.

The grants made by the Irena/ADFD Facility have been especially instrumental in overcoming investment needs for energy transformation infrastructure. Francesco La Camera, Irena director general, said their provision has therefore supported sustainable development realized by low-carbon means.

The first cycle of funding was undertaken in 2014, and since then, the Facility has supported 32 renewable energy projects by covering up to half of each project’s total cost. Together, they have brought 32 renewable energy projects, bringing 200 megawatts of energy capacity online and empowering over seven million people across Asia, Africa, Latin America and the Small Island Developing States with access to electricity.

Projects funded in the 7th cycle

Antigua and Barbuda: The Ministry of Health, Wellness and Environment will receive $15 million (Dh55 million) towards the construction of an 8-megwatt hybrid power plant. The project is expected to benefit 5,500 households, and will reduce greenhouse gas emissions by 64,685 tons annually.

Burkina Faso: Sahelia Solar, a clean energy provider, will be given $5.5 million (Dh20 million) for the construction of a 3-megawatt solar photovoltaic plant. This is expected to benefit 40,000 people in rural areas, and also help reduce the annual consumption of 2 million fossil fuels.

Chad: The Ministry of Petroleum and Energy will be given $15 million (Dh55 million) for the development of a 6-megawatt solar power plant. The plant is expected to benefit 215,000 people in six cities, while also reducing fossil fuel consumption by 5.4 million litres each year.

Cuba: Union Electrica, an electric power company, will receive $20 million (Dh73 million) to install 8.5 megawatts of solar photovoltaic capacity that is supported with 2 megawatts of storage in Isla de la Juventud. The project is expected to benefit 32,300 people, and reduce greenhouse gas emissions by 10.847 tonnes per year.

Maldives: A waste-to-energy plant to be developed by the Ministry of Environment will receive $14 million (Dh51 million). The 1.5-megawatt projects will generate electricity from waste, and benefit 35,000 people, while also reducing annual greenhouse gas emissions by 6,300 tonnes.

Nepal: The Alternative Energy Promotion Centre will receive $10 million (Dh36 million) to help build 20 biogas digesters. These will convert organic waste into energy, benefitting 500 small and medium enterprises and reducing annual greenhouse gas emissions by 200,000 tonnes.

St Lucia: The St Lucia Electricity Services will receive $15 million (Dh55 million) to set up a 10-megawatt solar power station in Troumassess, along with battery storage and solar energy systems across the island state. These initiatives are expected to benefit all residents, and reduce annual greenhouse gas emissions by 14,890 tonnes.

St Vincent and the Grenadines: The Ministry of National Security, Air and Sea Port Development will receive $10 million (Dh36 million) to install a 7-megwatt solar photovoltaic project, which will benefit 2,444 households. The project should also reduce annual greenhouse gas emissions by 60,000 tonnes.

Mohammad Al Suwaidi ( first left) director General at the Abu Dhabi Fund for Development, announces funding worth Dh385 million for renewable energy projects in eight countries. The funding is part of the ADFD collaboration with Irena, and it was announced at the 10th Irena General Assembly in the capital today.
Mohammad Al Suwaidi, director General at the Abu Dhabi Fund for Development, announces funding worth Dh385 million for renewable energy projects in eight countries. The funding is part of the ADFD collaboration with Irena, and it was announced at the 10th Irena General Assembly in the capital today.
Credit: IRENA

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