The International Renewable Energy Agency (IRENA), in partnership with the Abu Dhabi Fund for Development (ADFD), is inviting applications for renewable energy projects in developing countries. Within the framework of the ADFD-funded US$350 million (AED1.285 billion) IRENA/ADFD Project Facility, the current funding round of US$50 million in concessional loans marks the sixth of seven annual cycles. ADFD concessional loans will fund transformative renewable energy projects in developing countries.
The LAC region has successfully engaged in this program in past rounds, including St. Vincent and the Grenadines (geothermal), Antigua and Barbuda (wind and solar), Cuba (solar), Argentina (hydro), Ecuador (hydro).
“In just the last few years, renewable energy has emerged as one of the most economical choices for new power generation in countries around the globe. Accelerated renewable energy deployment in developing countries expands access to energy, improves health and welfare, creates jobs and drives economic growth,” said IRENA Director-General Adnan Z. Amin.