IRENA Announces Funding for Renewable Energy Projects in Developing World

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The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development announced yesterday funding totaling $41 million in concessional loans for renewable energy projects in six developing countries: Ecuador, Sierra Leone, the Maldives, Mauritania, Samoa, and Mali.

The financed projects will bring 35MW of renewable energy to rural communities that in some instances have lacked access to reliable energy sources. The projects ranging from hydro projects to solar, wind, and waste to energy projects will “stimulate local economic development and raise living standards,” according to IRENA’s Director-General, Adnan Z. Amin.

This first round of projects is just the beginning as the UAE, through the Abu Dhabi Fund for Development has committed $350 million to support renewable energy projects in developing countries.

IRENA also recently detailed a global roadmap to double the share of renewable energy by 2030 in its study entitled REmap 2030.

Walter Wang is an energy tax policy expert and managing editor of CleanTechies. A list of his publications can be found here. Follow Walter on Twitter: @energytaxprof

About Author

Walter’s contributions to CleanTechies over the past 4 years have been instrumental in growing the publications social media channels via his ongoing editorial and data driven strategies. He is the founder and managing director of Sunflower Tax, a renewable energy tax and finance consultancy based in San Diego, California. Active in the San Diego clean technology community, participating in events sponsored by CleanTech San Diego, EcoTopics, and Cleantech Open San Diego, Walter has also been a presenter at numerous California Center for Sustainability (CCSE) programs. He currently serves as an adjunct professor at the University of San Diego School of Law where he teaches a course on energy taxation and policy.

4 Comments

  1. This is a very interesting subject. I am director of a renewables company based in Zimbabwe and Zimbabwe is one country that can immensely benefit from such initiatives. Can I have information on how this type of funding can be accessed, and possibly any other funding alternatives. We are looking for partnerships in this field.

    Thanks

  2. While I love their efforts 41M is a veritable drop in the bucket…as for what most Emerging Markets actually need. And I hope to God they do not make the same stupid mistake World Bank did in Honduras…2B USD spent on Giant new Grid of Hugh wires Cris-crossing the country and no generating stations to generate any electricity to push down the lines..

    basically lines to nowhere…and with no body hooked up to them…

    lets hope IRENA will use this money for Distributed Generation over several different structures…basically Generating at point of use…instead of giant stations 100miles away from end user…

  3. Walter,

    I would really appreciate it if you will contact me via email tomorrow. My wind energy company has secured purchase orders for large wind farm projects in South America. I am very interested in collecting the details for the funding application process and forms required from The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development announced yesterday totaling $41 million in concessional loans for renewable energy projects in six developing countries. My personal email is: jdunsing@yahoo.com

    Sincerely,

    Jim Dunsing

    Executive Vice President

  4. Dear Walter,

    We are a renewable sustainable energy and technology company. We design, configure and install off grid Solar/wind generator for energy generation at point of use. With our “AIS Solar/wind generator” our clients are totally independent of the ‘National Grid’ and ‘Fossil Fuel Energy generators'(No more PHCN aka NEPA and fossil fuel generator. Since our Solar energy generators showcased, we have been inundated with interested customer inquiries and orders but need funding to produce this solar generators to meet our customers demand. l need details for the funding application process and forms required from The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development announced yesterday totaling $41 million in concessional loans for renewable energy projects in six developing countries.

    Sincerely

    Wunmi Olatunde

    CEO

    Adol Innovative Services Ltd

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