Global Arab Network | Abu Dhabi Fund for Development discusses cooperation in renewable energy with Irena

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Abu Dhabi Fund for Development discusses cooperation in renewable energy with Irena

Global Arab Network - - Hannan Taha

Sunday, 12 July 2009 00:46

Abu_Dhabi_Fund_for_Development_discusses_cooperation_in_renewable_energy_with_Irena

Mr Mohammed Saif Al Suwaidi discussed potential cooperation and joint venture agreements in the renewable sector in developing countries with Ms. Hélène Pelosse, Director General of International Renewable Energy Agency (Irena) at the Fund's offices in Abu Dhabi.

The Abu Dhabi Government is providing Dhs183m ($50m) as concessionary loans to developing countries through ADFD.

Al Suwaidi congratulated Ms. Pelosse for heading the Abu Dhabi-based Irena, highlighting the outstanding focus on renewable energy that Abu Dhabi Government is undertaking with initiatives such as Masdar, the world's first carbon-zero city, Zayed Award for Future Energy and Masdar Institute for Science and Technology.

Stressing that ADFD's policy takes into consideration the environmentally-friendliness of any project when giving go-ahead to finance it, Al Suwaidi said: 'Renewable energy is one of the vital sector for ADFD, given its pivotal role in saving energy for generations to come in developing countries.'

ADFD is currently financing various energy-relates project in many developing countries such as new dams, power plants, and water projects.

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