Abu Dhabi – Mubasher: The Abu Dhabi Fund for Development (ADFD) announced that it has approved funding a raft of renewable energy projects worth $31 million in Guyana, Liberia and Togo.
The approval comes as part of the sixth cycle of the ADFD and the International Renewable Energy Agency (IRENA) facility, the UAE’s leading entity for international development aid said.
“The projects selected this year will contribute towards meeting national energy access targets and will transform lives for the better,” Adnan Z. Amin, director general of IRENA, commented.
The facility will help develop African countries’ low-cost capital access for renewable energy projects in a bid to boost energy access, improve livelihoods and advance sustainable development, according to the ADFD’s statement.
“They will take advantage of cost-effective renewable energy to help reduce poverty, enable income-generating activities, and provide electricity to healthcare facilities and educational institutions, which will create jobs, empower women, and strengthen local communities,” Amin added.
Guyana will receive a loan worth $8 million to install 5.2-megawatt (MW) grid-connected solar PV systems in the hinterland regions in an effort to slash fossil fuel consumption and increase the reliability of electricity supply.
This will provide service to 34,700 people, along with creating up to 120 direct and indirect jobs throughout the project lifecycle, official data said.
In Liberia, the fund will provide a $8 million facility to construct a 2.1 MW run-of-river hydropower plant on the Gee River, which will be beneficial to over 30,000 people through providing a clean, reliable and affordable source of energy to households, schools, health facilities and small businesses, enhancing living conditions and helping to reduce poverty.
As for Togo, a 30 MW grid-connected solar PV plant will be constructed through a $15 million loan in order to bring clean, reliable power to around 700,000 households and small businesses, the statement showed.
Local communities will benefit from greater access to drinking water, education and healthcare as well as job creation that prioritises women.
“Since the first cycle selection of projects in 2014, ADFD funding has been allocated to 24 renewable energy projects across the world, covering up to 50 per cent of the total project costs,” the statement said.
