IRENA and ADFD announce $50m funding for developing countries
Businesses behind renewable energy projects in developing countries are being invited to apply for a share of $50m in concessional loans offered by the International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD). It is the sixth round led by the $350m IRENA/ADFD Project Facility, which has already backed 19 renewable energy schemes to the tune of $189m, creating more than 100 MW of capacity across Africa, Asia and smaller emerging nations. The deadline for round six applicants is February 2018, while the projects selected from round five will be revealed the month before.
The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) today said a funding round of USD 50 million (EUR 42m) in concessional loans for renewable energy projects in developing countries is now open for applications.

This is the sixth funding round under the USD-350-million IRENA/ADFD Project Facility, which is funded by the ADFD.

The first four rounds provided USD 189 million to 19 renewable energy ventures, which will create over 100 MW of renewable energy capacity and improve the energy access for over a million people. Located in Asia, Africa, Latin America and Small Island Developing States, the projects include wind, solar, hydro, geothermal and biomass technologies and use different systems such as hybrid, off-grid, mini-grid and on-grid including back-up storage.

The deadline for applications is February 15, 2018. The successful projects in the fifth round will be announced in January 2018.

(USD 1 = EUR 0.850)

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