UAE - Mubasher: The Abu Dhabi Fund for Development (ADFD) has funded 90 innovative renewable energy projects worth AED 4.7 billion ($1.3 billion) over a decade.
These projects have cumulatively produced 9,755MW of electricity across 65 countries, supporting their economies and enhancing their quality of life, according to a press release on Monday.
Among ADFD's initiatives is its cooperation with IRENA in 2013 to provide AED 1.28 billion ($350 million) to renewable energy projects in developing countries.
This initiative has led to around 208MW of clean energy generated through 32 projects in 26 countries.
In addition, the Fund has launched an AED 184 million ($50 million) initiative to establish 9.4MW renewable energy projects across 16 Caribbean Island nations.
The ADFD's other initiatives include an AED 550 million ($150 million) finance for a solar power plant in Quweira and a concessional loan of AED 22 million ($6 million) for a waste-to-energy plant project in the Maldives.
The Director General of the Fund, Mohammed Saif Al Suwaidi, said: "Such initiatives form the core of development and the UAE realised that years ago, which prompted it to host the headquarters of the International Renewable Energy Agency (IRENA)."
