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Sep 20, 2024 7:40 CESTto-the-point: ADFD lends USD 15m to solar-plus-wind in Caribbean
Wind turbine. Author: Luc Legay. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.
The Abu Dhabi Fund for Development (ADFD) is extending a USD-15-million (EUR 14m) loan for a hybrid solar and wind generation project in Antigua and Barbuda.
The fund said Saturday it had just signed the concessionary loan agreement. The project will have an initial capacity of 10 MW, and there are plans to expand the installation to 25 MW in later phases. A portion of the output will go for water desalination plants and health facilities.
The loan comes under an AED-1.285-billion programme launched by the ADFD and the International Renewable Energy Agency (IRENA) in 2013. More specifically, the financing for the Antigua and Barbuda project has been awarded under the third funding cycle recipients of ADFD/IRENA Project Facility.
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