65 Countries Benefit From Fund Funding

Abu Dhabi Development Company is financing 90 projects in the renewable energy sector, with a value of 4.7 billion dirhams

Abu Dhabi Development Company financed a wind power plant in Seychelles with 103 million dirhams.

From the source

The projects financed by the Abu Dhabi Fund for Development in the renewable energy sector over the past four decades have achieved strategic support for the UAE's efforts to increase the contributions of clean energy in developing countries, in addition to its prominent role in accelerating the pace of transformation towards renewable energy and reducing greenhouse gases and harmful carbon emissions. Environment, to reduce the phenomenon of climate change.

A statement issued yesterday stated that the fund's financing in the renewable energy sector witnessed a remarkable growth by the end of 2020, as the number of funded projects reached 90 projects with a total value of about 4.7 billion dirhams ($ 1.3 billion), from which 65 countries benefited.

The statement emphasized that as a result of the renewable energy projects financed by the fund, whose production capacity reached about 9,755 megawatts, many countries were able to develop their main sectors and deliver sustainable electricity services to thousands of villages and rural areas, which contributed directly to advancing economic growth and improving Residents' quality of life, in addition to supporting environmental issues and reducing millions of tons of carbon emissions annually.

Leading role

The Director General of the Abu Dhabi Fund for Development, Mohamed Saif Al-Suwaidi, said that the pioneering role the fund played in supporting renewable energy projects came thanks to the directives of the leadership, which is always keen to support international efforts aimed at facing the challenges associated with climate change, and to support countries in relying on renewable energy with low costs , To reduce the financial burden of using fossil fuels.

He added that Abu Dhabi's hosting of the headquarters of the International Renewable Energy Agency (IRENA) about 11 years ago, and the partnership relationship between the Fund and the international organization contributed to leading the international community to expand the use of renewable energy, as an alternative source to advance sustainable development efforts, stressing that the UAE plays an important role. To achieve development goals, stimulate economic development and improve the living standards of the population to achieve sustainable development.

Al Suwaidi emphasized that the fund has rich experiences in supporting the spread of energy projects and expanding its use on a global level, pointing out that this policy contributes to building a better future for future generations, as well as its effective role in protecting the environment and ensuring the sustainability of its natural resources, and reducing the amount of carbon emissions harmful to the environment. Which will reduce the phenomenon of climate change.

An exceptional initiative

According to the statement, the year 2013 witnessed the launch of the fund for an exceptional initiative on a global level to support renewable energy projects worth 1.285 billion dirhams, in cooperation with the International Renewable Energy Agency (IRENA).

Through the initiative, 32 renewable energy projects were funded in 26 countries.

The projects financed by the fund contribute to the production of about 208 megawatts of renewable energy, benefiting more than one million people. They also provided energy at affordable prices to low-income communities. The initiative also improved the quality of health and education services, as well as stimulating local economic development in those Countries, in addition to their role in reducing environmentally harmful carbon emissions.

Global projects

The fund reviewed renewable energy projects that it financed globally, including financing 11 projects in Pacific island countries, including the completion of 10 projects related to solar photovoltaic systems, and one project from wind energy systems.

Together, the projects contributed to the production of 5.7 megawatts of sustainable energy, and financial savings of $ 3.77 million annually as a result of the savings of diesel fuel, as well as avoiding the emission of 8,447 tons of carbon dioxide annually.

The fund also financed an initiative worth 184 million dirhams to finance renewable energy projects that benefit 16 Caribbean countries.

Most of the completed projects with a capacity of 9.4 megawatts have contributed to addressing the challenges facing the Caribbean countries related to the high cost of electricity, in addition to their positive contribution to providing sustainable energy, creating jobs and reducing environmental pollution by avoiding harmful emissions, in addition to supporting the local economy.

The most important projects financed by the fund during the past 10 years:

Sheikh Zayed Solar Energy Complex in Jordan, worth 551 million dirhams.

A waste-to-energy plant in the Maldives, worth 51 million dirhams.

The Merowe Dam in Sudan, at a value of 735 million dirhams.

The Roseires Dam in Sudan, with a value of 92 million dirhams.

Solar power plant in Somaliland, worth 29.3 million dirhams.

Installing solar panels - The Bahamas, worth 11 million dirhams.

Solar Power Project - Liberia, worth 29.3 million dirhams.

Solar power plant - Togo, worth 55 million dirhams.

Wind power plant - Sultanate of Oman, at a cost of 455 million dirhams.

Wind power plant in Seychelles, worth 103 million dirhams.

A solar power plant in Eritrea, worth 48 million dirhams.

A waste-to-energy conversion plant in the Emirate of Sharjah, with a value of 121 million dirhams.

The production capacity of the projects financed by the Fund reached 9,755 MW.

The UAE plays an important role in stimulating economic development and improving living standards.

Follow our latest local and sports news, and the latest political and economic developments via Google news