The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have officially opened the fifth round of funding for renewable energy projects in developing countries.
The funding round of approximately $50 million is part of ADFD’s $350 million commitment offering concessional loans to renewable energy projects endorsed by IRENA.
Since 2012, the IRENA/ADFD Project Facility has enabled $333 million in loans to 15 renewable energy projects in 14 developing countries. Selected projects thus far have included off-grid, mini-grid and on-grid projects using wind, solar, hydro, geothermal and biomass sources.
Thanks to the first three cycles, more than 68 MW of renewable energy capacity will be brought online, the groups say.
Read more at North American Windpower