IRENA/ ADFD offer project funding opportunity
IRENA and the Abu Dhabi Fund for Development announce concessional loan program of $5-15 million for projects that are either government-led or government-guaranteed.
An excellent opportunity for financing renewable energy projects in developing countries through the International Renewable Energy Agency (IRENA) and Abu Dhabi Fund for Development (ADFD) has been announced. Detailed information for project proponents on the first funding cycle are available via www.irena.org/adfd
This cycle offers concessional loans of USD 5 million to USD 15 million for several projects totaling USD 50 million. Applications from renewable energy projects seeking concessional loans must be government-led or government-guaranteed and are due by 12 January 2013 (on this website) which is little over 30 days away.
For these renewable energy project proposal applications to be eligible for funding, they must come from developing countries that are Members of IRENA, Signatories of the IRENA Statute or States in Accession. These countries must also feature on the Organisation for Economic Co-operation and Development’s (OECD) “DAC List of ODA Recipients”.