United Arab Emirates provides funding for renewable energy development in the Caribbean

Solar panels, Abu Dhabi. Image credit: gordontour
Energy
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At the recently concluded 8th Assembly of the International Renewable Energy Agency (IRENA) the United Arab Emirates announced its continued funding support for renewable energy development in the Caribbean:

The UAE-Caribbean Renewable Energy Fund, valued at AED183.6 million (US$50 million), has launched its second funding cycle by establishing partnerships with seven new Caribbean countries, on the sidelines of Abu Dhabi Sustainability Week 2018, with the aim of promoting its role in developing the renewable energy sector in Belize, the Dominican Republic, Grenada, Guyana, Haiti, Saint Kitts and Nevis, and Saint Lucia.

During the fund’s announcement on the sidelines of 8th session of the International Renewable Energy Agency, IRENA, General Assembly, Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has stated that the UAE has a prominent international role in promoting renewable energy solutions and finding effective solutions to key challenges facing renewable energy projects and innovations, which is reflected in the availability of necessary funding and investments in the country.

He added that the UAE-Caribbean Renewable Energy Fund, which was launched last year during the Abu Dhabi Sustainability Week 2017 to finance a series of renewable energy projects, is one of the country’s key initiatives to promote relevant global energy solutions.

Read more from the Emirates News Agency. See also these articles on the launch and previous projects of the UAE-Caribbean Renewable Energy Fund.

[Image credit: gordontour]

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