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Abu Dhabi Fund for Development (ADFD) gets Mauritius solar PV project


Abu Dhabi Fund for Development (ADFD), a leading national entity for international development aid & the Government of Mauritius, has signed a $10-million concessionary loan agreement to fund a solar PV kits project.

The project focuses on to provide 10,000 solar PV kits to low-income communities and is being funded through the Irena/ADFD Project Facility as one of the beneficiaries of its fifth funding cycle, noticed Mohammed Saif Al Suwaidi, the director general of ADFD, after inking the deal with Muthusamy Naidoo, the chairman of the Central Electricity Board of Mauritius, at the ninth session of the Irena Assembly that is currently underway in Abu Dhabi.

Al Suwaidi said "ADFD’s funding mechanisms are designed to foster sustainable development in key sectors that stimulate economic growth and lift up living standards in developing countries. To bear on that promise, the Fund views the advancement of renewable energy as a top priority”

"We are glad to work together with the Mauritian government to bring this crucial solar PV project online. The deal will go a long way in supporting the local economy and achieving national priorities, in addition to generating jobs and improving livelihoods," he added.

In October 2018, a technical delegation from ADFD visited Mauritius to analyze the feasibility of the project, its technical integrity, and its compatibility with the country’s strategic and development priorities.

The visiting delegation also discussed with the relevant authorities and evaluated the sustainability of the project and its various implementation stages.

The funds will provide the Mauritius Central Electricity Board to install solar PV systems on the rooftops of 10,000 households as part of the government’s efforts to reduce poverty, specified ADFD.

The project will contribute to accomplish the national target of integrating 35 per cent of renewable electricity into the country’s energy mix by 2025, it said.

Till date, ADFD had distributed a total of $245 million to 24 projects over six cycles of the Irena/ADFD project facility.

Source : tradearabia.com