Abu Dhabi Development Fund has financed 73 strategic projects in the renewable energy sector in 54 countries, with a value of 4.5 billion dirhams since 1974.

The Abu Dhabi Fund for Development has contributed to supporting the efforts of the UAE aimed at promoting the spread of renewable energy projects in developing countries, strengthening international efforts to confront climate challenges and working to reduce carbon emissions harmful to the environment.

Since 1974, the Fund has financed 73 strategic projects in the renewable energy sector, amounting to 4.569 billion dirhams, benefiting 54 countries in different continents of the world.

The Fund is keen to support various types of clean energy projects to ensure that the growing demand for energy is met and the provision of electricity in a safe and sustainable manner to partner countries.

The projects financed by the Fund contributed to raising the proportion of clean energy production capacity, reducing its dependence on fossil fuels, as well as reducing carbon dioxide emissions, in addition to providing thousands of job opportunities for the population, which enhanced the process of economic and social growth and achieved sustainable development for the beneficiary countries.

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, said in statements to the Emirates News Agency (WAM): “With the directives of the wise leadership, the UAE has given the renewable energy sector special attention, and the Fund has invested in quality projects in the field of clean energy, and during its course it was keen to support the efforts of the international community to use International best practices in the field of environment, adopting innovative technologies and developing sustainable solutions to meet climate challenges.”

Al-Suwaidi added: “On the occasion of the convening of the 27th session of the Conference of the States Parties to the United Nations Framework Convention on Climate Change (27COP) in Egypt, the Abu Dhabi Fund for Development has played an active role alongside national institutions in leading the UAE and occupying advanced centers in climate action, and contributing In achieving sustainable economic development, the UAE was one of the first countries in the region to sign the Paris Climate Agreement in 2015, as well as its commitment to the policy of diversifying energy sources and enhancing their efficiency at the local and global levels.

In 2013, the Abu Dhabi Fund for Development launched an initiative to finance renewable energy projects in developing countries in cooperation with the International Renewable Energy Agency (IRENA), with a value of $350 million to support IRENA member states and enable them to provide advanced infrastructure that meets the requirements of sustainable development and enhances capacity. productivity and to meet the increasing demand for electricity and water at the highest quality levels. Within the initiative, the Fund financed 26 projects with a capacity of 265 megawatts, benefiting 21 countries, during 7 financing cycles that were implemented. In 2013, the Fund financed the Partnership Fund between the Emirates and the Pacific Island Countries with a value of $50 million, where the Fund implemented the financing of 11 projects, and the total produced energy amounted to 6 megawatts, and the projects contributed to achieving $3.7 million in fuel savings, as well as 8,447 volumes of reduction in carbon dioxide emissions. carbon annually.

In 2017, the Fund contributed to financing the Partnership Fund initiative between the UAE and the Caribbean Islands, with a value of 50 million dollars, from which 16 islands benefited, with a capacity of 9.43 megawatts of total energy produced, during 3 financing cycles.

The Abu Dhabi Fund for Development is the first development institution to join the global financing platform to accelerate the transition to renewable energy (ETAF), which was launched during the “COP26” conference in Glasgow, United Kingdom in November 2021, which aims to accelerate the deployment of renewable energy projects and solutions. In developing countries, the UAE pledged $400 million through the Abu Dhabi Fund for Development.

The platform aims to raise a billion dollars in financing, to reduce the challenges facing developing countries represented in securing the financing and expertise needed to develop clean energy projects, in addition to attracting additional investments worth two billion dollars from international financial institutions, in an effort to produce 1.5 gigawatts of energy produced from new projects financed by before the platform by 2030.