irenaadfd opens new round of funding for renewable energy in developing countries
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

IRENA/ADFD opens new round of funding for renewable energy in developing countries

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today IRENA/ADFD opens new round of funding for renewable energy in developing countries

The International Renewable Energy Agency
Abu Dhabi - WAM

The International Renewable Energy Agency, IRENA, in collaboration with the Abu Dhabi Fund for Development, ADFD, is now welcoming applications for the fourth round of funding to support renewable energy projects in developing countries.

The funding round of approximately US$ 50 million is part of a US$ 350 million (AED 1.285 billion) commitment by ADFD to provide concessional loans to projects endorsed by IRENA over seven funding cycles.

"The funding articulates ADFD's commitment to supporting renewable energy projects in developing nations given the sector's crucial role in aiding economic and social development," read a joint press release of IRENA and ADFD.

"This new funding cycle provides another opportunity for developing countries to access low cost capital for renewable energy projects to drive an energy transition and achieve sustainable development," said IRENA Director-General, Adnan Z. Amin. "The continued partnership between ADFD and IRENA brings funding to the places where it can have the most impact and where financing is one of the greatest challenges."

Mohammed Saif Al Suwaidi, ADFD Director-General, said, "The Abu Dhabi Fund for Development is delighted to partner with IRENA to launch the fourth cycle of our joint renewable energy project facility. The scale of current energy demand globally requires close collaboration among governments and international agencies to ensure access to clean and cost-effective energy across the developing world. This partnership has given us the opportunity to make significant contributions to the energy sector in developing countries through providing the much-needed financial assistance. We are confident that such inter-governmental collaboration will help narrow the gap between developed and developing countries in this crucial sector."

Funding from the IRENA/ADFD Project Facility boosts renewable energy growth in developing countries and offers sustainable and affordable energy to millions of people with limited or no access to electricity. In its first two cycles, the facility allocated nearly US$ 100 million to cover up to 50 percent of project costs for eleven renewable energy projects across the globe.

The loans were approved following close collaboration between ADFD and IRENA to assess and select the projects that meet specific criteria.

"Thanks to projects funded in the first three cycles, more than 56 megawatts of renewable energy capacity will be brought online and roughly 600,000 people and businesses will benefit from increased access to energy and improved livelihoods. Projects include off-grid, mini-grid and/or on-grid including backup storage and using wind, solar, hydro, geothermal and biomass in Argentina, Cuba, Ecuador, Iran, Maldives, Mali, Mauritania, Samoa and St. Vincent and the Grenadines. The results of the third funding cycle will be announced in January 2016," according to the press release.

It goes on to that projects must be transformative, replicable, scalable and/or innovative, improve energy access and help address energy security issues. "Projects are carefully evaluated on technical merit, economic viability and socio-economic and environmental impact."

The applications for the fourth of seven funding cycles will be accepted until 15th February 2016 at 17:00 GST.

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

irenaadfd opens new round of funding for renewable energy in developing countries irenaadfd opens new round of funding for renewable energy in developing countries

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

irenaadfd opens new round of funding for renewable energy in developing countries irenaadfd opens new round of funding for renewable energy in developing countries

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more

GMT 21:00 2011 Thursday ,29 September

Al Jaber to agree debt deal by year-end

GMT 05:50 2012 Saturday ,05 May

French patisserie with delightful structure

GMT 01:56 2012 Friday ,06 April

Sheraton Hotels to boost spa offering

GMT 08:51 2012 Thursday ,26 April

Arab women still unrecognised

GMT 07:08 2011 Thursday ,22 September

Hotel Shilla sets up first free shop in Macau

GMT 08:52 2018 Friday ,12 January

Film legend Delon says he's ready to die

GMT 14:48 2017 Sunday ,31 December

UAE cancels Tunisia handball games amid row

GMT 18:49 2017 Tuesday ,31 October

Celtics snap NBA losing streak to injury-hit Spurs

GMT 12:54 2011 Monday ,26 December

Anti-bullying program launched by Tulsa schools

GMT 15:07 2012 Wednesday ,07 November

Oriflame to launch Sparkle in Paris collection

GMT 07:31 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat

GMT 18:23 2017 Wednesday ,19 July

Chile moves to ease strict abortion laws
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday