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Abu Dhabi US$8M loan to build solar power for almost 35,000 residents
Communities in Guyana’s hinterland region are set to benefit from reliable and efficient electricity supply stemming from the installation of a 5.2-megawatt (MW) grid-connected solar PV system.
The systems will be funded through a recently approved low cost loan of US$8M from the Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA).
Guyana has been named as one of the countries selected. The other countries named are Liberia and Togo.
The funding will ensure the provision of energy access and advance sustainable development for selected hinterland communities.
Minister of Public Infrastructure, David Patterson, attends sixth cycle of the IRENA/ADFD Project Facility in UAE.
Minister of Public Infrastructure, David Patterson, whose Ministry is responsible for the project, attended the sixth cycle of the IRENA/ADFD Project Facility in Abu Dhabi, UAE, over the weekend.
The installation of the 5.2-megawatt (MW) grid-connected solar PV systems will in turn reduce fossil fuel consumption and increase the reliability of electricity supply.
An estimated 34,700 people in the targeted areas will benefit and around 120 direct and indirect jobs are set to be created throughout the project lifecycle.
The projects selected this year will contribute towards meeting national energy access targets and will transform lives for the better says IRENA Director-General Adnan Z. Amin.
“They will take advantage of cost-effective renewable energy to help reduce poverty, enable income-generating activities, and provide electricity to healthcare facilities and educational institutions, which will create jobs, empower women, and strengthen local communities,” says Amin.
Since the first cycle selection of projects in 2014, ADFD funding has been allocated to 24 renewable energy projects across the world, covering up to 50 per cent of the total project costs.
Funding is available for sustainable development projects that are backed by a government guarantee.
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