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Abu Dhabi on December 8th
The Abu Dhabi Office for Exports (ADEX) signed an agreement with the Ministry of Economy and Finance in Togo to raise the production capacity of the Mohammed bin Zayed Solar Park in Togo from 50 to 70 megawatts, in addition to providing it with a storage battery system with a capacity of 4 megawatts per hour.
Under the agreement, “Abu Dhabi Exports” will provide a loan of 92 million dirhams (equivalent to 25 million dollars), and the UAE company “EMEA Power” will undertake the construction and operation of the new expansion of the complex.
During January 2022, the Abu Dhabi Office for Exports provided financing of 37 million dirhams, equivalent to ($10 million). Thus, the total value of Abu Dhabi Exports’ contribution to the expansion of the Mohamed bin Zayed Solar Park in Togo amounts to 128.5 million dirhams, equivalent to 128.5 million dirhams. ($35 million).
The agreement was signed by His Excellency Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Chairman of the Executive Committee for Exports, and His Excellency Sani Yaya, Minister of Economy and Finance of Togo.
The signing, which was made by videoconference, was attended by His Excellency Maunio Mela Azebel, Minister of State for Energy and Mines of Togo, His Excellency Hussein Jassim Al Nowais, Chairman of the Board of Directors of EMEA Power Company, and Khalil Fadel Al Mansouri, Acting Director General of the Abu Dhabi Export Office.
The project contributes to supporting the Togolese government and enabling it to implement its national strategy for the development of the renewable energy sector, by increasing the percentage of energy provision from clean sources and universal access to electricity by 2030, as it is expected that the number of beneficiaries from the complex’s electricity supply will reach about 225 thousand. house in togo
On this occasion, His Excellency Mohammed Saif Al Suwaidi said: “The agreement supports the continuation of the efforts initiated by the Abu Dhabi Fund for Development and its contribution to financing the Mohammed bin Zayed Solar Park in Togo, and embodies its keenness to sustain partnerships with beneficiary countries, as the agreement between the Abu Dhabi Office for Exports and the government of Togo is a step Mission to enhance the presence of Emirati companies in the global markets, and this comes through directing the distinguished resources and expertise of the Emirati company “EMEA Power” to implement this strategic project.
He stressed that the agreement supports the UAE’s policy aimed at achieving economic diversification and enhancing the competitiveness of national exports globally, especially that the project will work to meet the needs of the Togolese population for sustainable energy and allow the use of innovative solutions to reduce the phenomenon of climate change.
For his part, His Excellency Hussain Jassim Al Nowais said: “This pioneering project embodies the interest of the UAE and its keenness to develop partnerships with African countries, in addition to keeping pace with the strategic directions of the state aimed at promoting the spread of clean energy solutions around the world, in an effort to achieve economic development for the beneficiary countries.”
He praised the efforts made by the Abu Dhabi Office for Exports and its encouragement to purchase Emirati goods and services, increase the volume of national products and enable them to reach global markets, in order to achieve the diversification and sustainability of the national economy, pointing to the importance of the pioneering role of the Abu Dhabi Fund for Development and its effective contributions to the success of this qualitative project, which will have tangible results. Supports the development goals of the Togolese government.
It is worth noting that the Abu Dhabi Fund for Development funded the first phase of the Mohammed bin Zayed Solar Energy Complex in Togo during the year 2021, at a value of 55 million dirhams, equivalent to ($ 15 million), and the project works to reduce the volume of carbon dioxide emissions by 9.5 thousand tons per year. It also contributes to accelerating the pace of the shift towards reliance on renewable energy sources to ensure a more sustainable future for future generations, stimulating the growth of sectors of the local economy, and providing hundreds of job opportunities for the population, thus contributing to achieving sustainable economic and social development for the Republic of Togo.
