Abu Dhabi allocates $105 million for renewable energy in 8 countriesChristian Fernsby ▼ | January 13, 2020
The Abu Dhabi Fund for Development (ADFD) announced a record $105 million allocation of funds for renewable energy projects in eight developing countries.
Energy Antigua and Barbuda solar energy
Topics: Abu Dhabi renewable energy
The ADFD signed agreements worth $33 million with governments of three African nations. Thus, the overall commitment by ADFD was at $138 million.
The funding of eight countries comes as part of the seventh and final cycle of the International Renewable Energy Agency (Irena)/ADFD Project Facility, which was launched in 2014 with $350 million commitment in concessional loans. In the first six cycles, the cumulative funding had reached $245 million. Since the first cycle selection of projects, the ADFD has funded 32 projects in 26 countries. And so far 18 projects have been completed. ■