Abu Dhabi Fund for Development financed two solar energy projects with 66 million dirhams
Cuba: UAE support for energy projects advances economic development
The Fund looks forward to consolidating the cooperative relationship with Cuba.
From the source
Cuban Minister of Trade, Foreign Investment and International Cooperation, Rodrigo Malmercadiz, stressed that the role played by the UAE, represented by the Abu Dhabi Fund for Development, in supporting renewable energy projects has contributed to advancing sustainable economic development in Cuba.
In 2019, the Cuban government launched a solar energy project, funded by the Abu Dhabi Fund for Development, with a value of 55 million dirhams, with a production capacity of 15 megawatts.
The fund also allocated 11 million dirhams to finance the solar energy project at the "University of Las Villas" in Santa Clara, which aims to support the energy sector in major cities, reduce the consumption of organic fuels, and reduce the level of carbon emissions.
The Director-General of the Abu Dhabi Fund for Development, Mohammed Saif Al-Suwaidi, and the Cuban Minister of Trade, Foreign Investment and International Cooperation, Rodrigo Malmercadiz, discussed, during a meeting held at the Fund's headquarters in Abu Dhabi, the priority development and economic opportunities for the Cuban government, in addition to shedding light on the development projects funded by the Fund in Cuba. It is consistent with its strategic objectives in achieving sustainable development in developing countries.
Al Suwaidi said that the bilateral relations between the Abu Dhabi Fund for Development and the Cuban government have witnessed a remarkable development during the past five years. He looks forward to consolidating the cooperation relationship with Cuba, and to consider financing future projects that contribute to promoting economic development in the country.
For his part, the Cuban minister said that the implementation of energy projects in Cuba is an important step towards providing electric power to thousands of families, as it contributes to the development of vital productive sectors, in addition to its role in protecting the environment, reducing carbon emissions, and limiting the phenomenon of climate change.
He expressed his thanks and appreciation for the role played by the UAE, represented by the Abu Dhabi Fund for Development, in supporting renewable energy projects that contributed to advancing sustainable economic development in Cuba, and achieving the government strategy aimed at producing 24% of electricity from clean energy sources by 2030. .
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