ADFD has funded 90 renewable energy projects worth Dhs4.7 billion

ADFD has funded 90 renewable energy projects worth Dhs4.7 billion

Abu Dhabi Fund for Development (ADFD) has been supporting the country's effort towards driving energy transition at home and around the world by financing innovative renewable-energy projects. These initiatives have had powerful impact on the economies and the environment of beneficiary countries.

The Fund has consistently increased its portfolio of such projects, having funded 90 of them over a decade at a total value of about Dhs4.7 billion ($1.3 billion). Cumulatively generating 9,755MW of electricity, these projects benefited 65 countries by supporting their economies and improving the quality of life.

Mohammed Saif Al Suwaidi, Director General of the Fund, expressed gratitude to the UAE's leadership in investing in the just cause. "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),“ he said.

Collaboration with IRENA:

In 2013, ADFD in collaboration with IRENA launched an initiative with a commitment of Dhs1.28 billion ($350 million) to support renewable energy projects in developing countries.

Since then, the initiative led to the production of about 208MW of clean energy through 32