ADFD grants US$105m towards renewable energy projects around the world
The IRENA/ADFD Project Facility announcement marks a record level of funding
ABU DHABI: The Abu Dhabi Fund for Development, ADFD, today confirmed the allocation of approximately $105 million for eight renewable energy projects under the seventh cycle of its partnership with the International Renewable Energy Agency, IRENA.
The IRENA/ADFD Project Facility announcement marks a record level of funding for any cycle since the Facility was launched and will provide funding for projects in Antigua and Barbuda, Burkina Faso, Chad, Cuba, the Maldives, Nepal, Saint Lucia and Saint Vincent and the Grenadines.
The announcement made during the 10th IRENA Assembly brings cumulative funding to date to US$350 million, in line with the commitment made by ADFD across seven funding cycles to IRENA recommended projects.
The Facility supports developing countries in securing low-cost capital for renewable energy projects to increase energy access, improve livelihoods and advance sustainable development on the ground.