Close Menu
    What's Hot

    UAE-Africa Trade: A Strategic Shift in Global Investment

    May 22, 2025

    FarmXic Deploys Soilless Farming Kits to Power Urban Agriculture in Nigeria

    May 19, 2025

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

      May 16, 2025

      Navigating Challenges in the African Air Cargo Industry

      March 5, 2025

      Driving Growth: African Logistics Sector Harnesses AfCFTA’s Potential

      January 20, 2025
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      UAE-Africa Trade: A Strategic Shift in Global Investment

      May 22, 2025

      Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

      May 14, 2025

      NjiaPay – Bridging Africa’s Fragmented Payment Ecosystem

      May 12, 2025
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      DP World and Nedbank Elevate Trade Finance in Africa

      Finance Trade September 18, 2024
      Recent

      DP World and Nedbank Elevate Trade Finance in Africa

      September 18, 2024

      Arab Coordination Group commits $50 billion for Africa’s sustainable development

      November 13, 2023

      MENAT to see investment flows increase substantially

      September 4, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Culture & Society

    IRENA makes new funds available for renewable energy projects

    November 15, 20152 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    International Renewable Energy Agency makes funds available for new clean energy projects in developing nations

    IRENA has announced it is welcoming application for a fourth round of funding to support renewable energy projects in developing countries, according to a statement by the agency earlier today.

    Working in conjunction with the Abu Dhabi Fund for Development (ADFD), the latest round of funding, worth approximately $50m is part of a $350m commitment by the UAE to provide concessional loans to projects endorsed by IRENA over seven funding cycles through the ADFD. This new funding cycle provides another opportunity for developing countries to access low cost capital for renewable energy projects to drive an energy transition and achieve sustainable development.

    Speaking on behalf of IRENA, director-general Adnan Z. Amin, said, “This new funding cycle provides another opportunity for developing countries to access low cost capital for renewable energy projects to drive an energy transition and achieve sustainable development. The continued partnership between IRENA and ADFD brings funding to the places where it can have the most impact and where financing is one of the greatest challenges.”

    With a primary aim to bring affordable renewable energy to those in the emerging economies, the initial three cycles will eventually provide more than 56 MW of renewable energy to approximately 600,000 people.

    Using a variety of energy sources, project include off-grid, mini-grid and/or on-grid using wind, solar, hydro, geothermal, and biomass in countries including African nations such as Mali and Mauritania. Related article Osun seeks to capitalise on infrastructure momentum

    The south-western Nigerian state has been in discussions with potential partners at the ADBG in South Korea as part of its strategy to galvanise…

    While the results from the third funding cycle will be announced in January 2016, applications for the fourth through to seventh rounds will be accepted until 15th February 2016.

    This new funding cycle provides another opportunity for developing countries to access low cost capital for renewable energy projects to drive an energy transition and achieve sustainable development.

    ADFD energy IRENA Mali Mauritania renewable energy
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleIMF seeks greater integration with Islamic finance
    Next Article Africa Global Business Forum 2015 commences in Dubai

    Related Posts

    Energy

    Africa Energy Bank to Launch in June, Aiming to Transform Continental Energy Financing

    March 26, 2025
    Innovation Power

    Genesis and K’omani join forces to drive sustainable energy solutions in Africa

    October 16, 2024
    Energy

    Shell South Africa – Global Oil Giants Compete for Shell’s South African Assets

    September 9, 2024
    Add A Comment

    Comments are closed.

    LATEST STORIES

    UAE-Africa Trade: A Strategic Shift in Global Investment

    May 22, 2025

    FarmXic Deploys Soilless Farming Kits to Power Urban Agriculture in Nigeria

    May 19, 2025

    South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

    May 16, 2025

    Unlocking Africa’s Digital Trade Future: Matta and the Rise of Integrated Marketplaces

    May 14, 2025

    NjiaPay – Bridging Africa’s Fragmented Payment Ecosystem

    May 12, 2025
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.