Media ININ Economy We Trust
Media In Abu Dhabi, 19 January 2019 (WAM)
Since its establishment in 1971, ADFD has financed more than 70 renewable energy projects that have contributed to sustainable energy generation, improved living conditions for millions of people worldwide, and the achievement of United Nations development goals.
Abu Dhabi Fund for Development’s funding in the renewable energy sector amounted to 4.4 billion dirhams (1.18 billion US dollars) at the end of last year, contributing to the production of about 2584 MW of renewable energy in different countries of the world.
According to the report, the Fund financed about 20 renewable energy projects in cooperation with the governments of developing countries with a total value of about 2.7 billion dirhams (equivalent to 737 million US dollars). The number of projects financed by the UAE initiatives in the renewable energy sector reached 50 projects worth To 1.652 billion dirhams (450 million dollars).
In 2013, the fund launched an initiative to finance renewable energy projects in cooperation with the International Renewable Energy Agency (IRENA) with a total value of 1.285 billion dirhams ($ 350 million). In 2014, the fund also financed the $ 185.5 million partnership fund between the UAE and the Pacific ($ 50 million). In 2017, the fund financed the partnership fund between the UAE and the Caribbean countries worth 183.5 million dirhams ($ 50 million).
Mohammed Seif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), said that the Fund recognizes the importance of the role played by the renewable energy sector in achieving development goals in developing countries to stimulate economic development and improve the living standards of the population to achieve sustainable development. Other “.
He pointed out that the financing of renewable energy projects is in line with the goals and objectives of the Fund in providing a decent life for millions of people in developing countries. He stressed the role of the Fund in promoting the spread of renewable energy solutions in developing countries to enable them to meet their energy needs in all their forms. Projects Conservation of the environment.
