Agency: IRENA and the Abu Dhabi Fund for Development (ADFD)
Theme: Renewable energy projects in developing countries.
Value: $5 – $15 million USD
Eligible Caribbean & Latin American Countries: Antigua & Barbuda, Argentina, Belize, Colombia, Cuba, Dominican Republic, Ecuador, Grenada, Guatemala, Guyana, Honduras, Jamaica, Nicaragua, Panama, Peru, St. Lucia, St. Vincent & the Grenadines
Deadline: 15 February 2017
As part of its commitment to provide USD 350 million in concessional loans over 7 annual cycles to government-driven renewable energy projects in developing countries, IRENA and the Abu Dhabi Fund for Development (ADFD) announce the opening of the 5th funding cycle of the IRENA/ADFD Project Facility, offering approximately USD 50 million in loans.
- ADFD loans range between USD 5 million and USD 15 million per project to cover up to 50% of the project cost.
- Finance is offered at 1 to 2 per cent lending rates with a 20-year loan period, including a 5-year grace period.
- Projects must have a letter of government guarantee and support from the government entity (Ministry of Finance) involved in the international borrowing affairs of the country
- Previously funded projects have included off-grid, mini-grid and on-grid projects using wind, solar, hybrid, hydro, geothermal and biomass technology.