The Abu Dhabi Development Fund (ADFD) has announced that it will finance three renewable energy projects in developing countries, including two in West Africa: Togo and Liberia. The funding will be provided through a mechanism set up in partnership with the International Renewable Energy Agency (IRENA).
Two renewable energy projects have been selected in West Africa through a joint mechanism set up by the Abu Dhabi Development Fund (ADFD) and the International Renewable Energy Agency (IRENA). The Emirati Fund stated that these projects were located in Togo and Liberia.
For Togo, the authorities will receive $15 million. The sum is intended to finance the construction of a 30 MW solar park. According to the ADFD, the project aims to provide clean and reliable energy to about 700,000 customers, households and small businesses. It will also reduce greenhouse gas emissions by more than 9,200 tonnes per year. This is an ambitious project for the Government of Togo, which has set itself the objective of producing 200 MW of renewable energy (100 MW of solar energy) by 2020.
A hydroelectric project in Liberia
“The projects selected this year will contribute to national energy access objectives and transform lives. They will provide cost-effective renewable energy sources to help reduce poverty, enable income-generating activities and provide electricity to health care institutions and schools, which will create jobs, empower women and strengthen local communities,” said Adnan Z. Amin, Irena’s current Managing Director.
The other country concerned by the ADFD loan is Liberia. The United Arab Emirates financial institution has decided to invest $8 million in the project. It will be used to finance the construction of a hydroelectric dam on the Gee River in the east of the country. The project will provide 2.5 MW. Enough energy to power 30,000 people, according to the ADFD.
Jean Marie Takouleu