Cuba expanding solar capacity with financial help from ADFD

Cuba has recently expanded a 10-MW solar photovoltaic (PV) plant to 15 MW of total capacity with the help of financing from the Abu Dhabi Fund for Development (ADFD).

The Abu Dhabi-based financial institution said in a statement on Sunday that the grid-connected project was scaled up with the savings from the concessionary loan of USD 15 million (EUR 12.7m) that was provided by it under the second cycle of the ADFD-IRENA Facility. The balance was covered by the government of Cuba.

ADFD further noted that the benefits from this project have encouraged it to support a second 14.3-MW solar scheme that will include 4 MW of battery storage capacity. It has allocated USD 20 million towards this project under the seventh cycle of the ADFD-IRENA Facility.

(USD 1.0 = EUR 0.847)

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