Abu Dhabi approves US$8M loan from Abu Dhabi for 5.2Mw hinterland solar project

Jan 15, 2020 News

Guyana is to build a 5.2 megawatt grid-connected solar system for the hinterlands, via a loan from Abu Dhabi.

Minister of Public Infrastructure, David Patterson (r) during the Abu Dhabi conference a few months ago.

According to the Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA), they have selected a number of renewable energy projects in some countries, including in Guyana.
Liberia and Togo have been also approved for funding by ADFD, a statement over the weekend said.
“With ADFD committing US$350 million over seven funding cycles to the IRENA/ADFD Project Facility since 2013, today’s announcement, during the Ninth Session of the IRENA Assembly, brings cumulative funding to date to US$245 million. The facility helps developing countries access low-cost capital for renewable energy projects to increase energy access, improve livelihoods and advance sustainable development.”
The statement explained that the project in the hinterland regions is to reduce fossil fuel consumption and increase the reliability of electricity supply.
“An estimated 34,700 people in the target areas will benefit and around 120 direct and indirect jobs are set to be created throughout the project lifecycle.”
According to the fund, the projects selected this year will contribute towards meeting national energy access targets and will transform lives for the better.
IRENA Director-General Adnan Z. Amin said the projects “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.”
Mohammed Saif Al Suwaidi, Director General of ADFD, said: “We are proud of our result-oriented facility that has supported replicable, scalable and potentially transformative renewable energy projects set to benefit communities and improve their living conditions.
“Today, at the Ninth Session of the IRENA Assembly, we are pleased to have selected truly impactful projects valued at US$31 million for the sixth cycle of financing awarded by the Facility. Taking into account this cycle’s recipients, our cumulative expenditure to date is US$245 million, and we look forward to allocating the remaining US$105 million to awardees of the seventh cycle.”
In Liberia, the loan of US$8 million will contribute to the construction of a 2.1 MW run-of-river hydropower plant on the Gee River.
The project will benefit over 30,000 people through providing a clean, reliable and affordable source of energy to households, schools, health facilities and small businesses, enhancing living conditions and helping to reduce poverty.
In Togo, a 30 MW grid-connected solar PV plant will be constructed with the investment of a US$15 million loan. The project aims to bring clean, reliable power to around 700,000 households and small businesses and reduce greenhouse gas emissions by 9,242 tonnes/year.
Local communities will benefit from greater access to drinking water, education and healthcare as well as job creation that prioritises women.

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