ADFD, IRENA to Fund Niger Power Project

ADFD, IRENA to Fund Niger Power Project

The Abu Dhabi Fund for Development (ADFD), in partnership with the International Renewable Energy Agency (IRENA), backs an energy project, which aims to provide power to 150,000 people in Niger, Ecofin Agency reported.

The project focus on rural electrification using 2.1MW solar photovoltaic micro-grids and solar home kits. Besides the targeted populations, about 100 schools will be powered under the initiative, which will also help improve access to water, Voux Magazine informed.

The project is one of four to benefit from the support of the two institutions, which amounts to $44.5m. Each of the four projects got between $5m and $15m in financing, which represents half of financing required for some of the projects. Provided as loans, the funds will be paid back over 20 years, with an interest of 1%-2%.

IRENA’s Director, Adnan Amin, said in the past four years, the company, alongside with ADFD, was able, through this project, to identify energetic projects enable to help boost access to power, insure power security, and provide affordable energy to populations that need it.

Since it was launched in 2013, the project, which is led by the ADFD and IRENA, promoted the financing of 19 projects costing $189m, and helped secure $387m in co-financing.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password