The Abu Dhabi Fund for Development (ADFD), in partnership with the International Renewable Energy Agency (IRENA) has thrown its weight behind an energy project which aims to provide power to 150,000 people in Niger Republic. The project involves the development of a 2.1 MW mini photovoltaic plant, paired with domestic solar units. Besides the targeted populations, about 100 schools will be powered under the initiative which will also help improve access to water.
“In the past four years, IRENA and the ADFD were able, through this project, to identify energetic projects enable to help boost access to power, insure power security and provide affordable energy to populations that need it,” said Adnan Amin, director of IRENA.
The project is one of four to benefit from the support of the two institutions, which amounts to $44.5 million. Each of the four projects got between 5 and 15 million dollars in financing, which represents half of the financing required for some of the projects. Provided as loans, the funds will be paid back over 20 years, with an interest of 1%-2%.
Since it was launched in 2013, the project which is led by the ADFD and IRENA promoted the financing of 19 projects ($189 million), and helped secure $387 million in co-financing.
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