The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have collaborated on a joint Project Facility to support replicable, scalable and potentially transformative renewable energy projects in developing countries. ADFD committed USD 350 million in concessional loans, over seven annual funding cycles, to renewable energy projects recommended by IRENA.
The latest funding cycle offers around USD 50 million in concessional loans from the Abu Dhabi Fund for Development (ADFD). The Facility is welcoming summary project proposals from renewable energy projects in developing countries, that are at feasibility study stage and have the support of the central government. Background information on the sixth cycle is available in English, Français and Español.
ADFD funding offer:
- USD 5 million to USD 15 million per project, covering up to 50% of the total project cost.
- Loan rates of 1 to 2%, 20-year loan period including a 5-year grace period.
- Government guarantee required for the ADFD loan (usually from the Ministry of Finance).
the deadline for submission of summary project proposals in the sixth funding cycle of the IRENA/ADFD Project Facility is 15 February 2018 (17:00 GST).
Contact Ms. Seleha Lockwood and Ms. Sofi Hinchliffe at email@example.com with any questions.
Photo: Seychelles Public Utilities Corporation