Abu Dhabi Fund completes Dh117m worth of renewable projects in Caribbean
Five countries, including Cuba, were able to tap these funds for energy switch
Dubai: Abu Dhabi is taking the renweables message outside of its borders as well. One of its funds spent Dh117.3 million on projects in Cubai and the Bahamas to get these countries to reduce their carbon footprint.
The Abu Dhabi Fund for Development also did the same in Somaliland, Barbados, Saint Vincent and the Grenadines. “We doubled our effort to ensure that we delivered the projects to our partner countries, especially during such a time of crisis," said Mohammed Saif Al Suwaidi, Director-General of ADFD.
"The aim was to help them maintain their economic and social-development trajectories by enabling them to meet developmental challenges during the pandemic. These projects also underscored the Fund’s preparedness and ability to deal with any difficulties.”
All five country projects are now complete, and reduced their carbon footprint by infusing a total of 14.38MW into the energy mix. “Renewable projects remain high on our agenda as their impact is felt on multiple levels, from commerce to the environment," the official added. "The turbulence in 2020 forced us to focus on what really matters, while it made all of us realise the value of partnership and cooperation.”
Launched in 2017, the UAE-CREF is the largest renewable energy initiative of its kind in the Caribbean.