Economy

Agreement Signed to Support Energy Projects in Caribbean

The sun2live solar energy plant at the V.C. Bird International Airport, Antigua
Agreement Signed to Support Energy Projects in Caribbean

$50 million UAE-Caribbean Renewable Energy Fund seeks to “bring energy security” to Caribbean region

Abu Dhabi Fund for Development (ADFD) has signed an agreement with Masdar to finalise financing and to bolster collaboration in implementing projects within the framework of the ADFD-funded $50 million (Dh183.5 million) UAE-Caribbean Renewable Energy Fund.

Through this renewable energy fund, which is being managed by the Ministry of Foreign Affairs and International Cooperation (MOFAIC), the UAE is supporting sustainable economic and social development across the Caribbean by helping countries to maximise their vast natural potential for resilient, commercially viable renewable energy.

Cycle one of the fund includes projects in Antigua & Barbuda, Bahamas, Barbados, Dominica, St Vincent and the Grenadines, with a focus on delivery of solar PV and battery storage technologies.

Source/Gulf News

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