The Abu Dhabi Fund for Development (ADFD) and the International Renewable Energy Agency (IRENA) will grant $50 million in concessional loans to developing countries for renewable energy projects.

Deadline for applications to the funding programme is February, 15, 2017, IRENA revealed. It added that results for selected projects will be announced in January 2018.

The loans are part of the fifth cycle of a $350 million funding programme.

Under the programme, ADFD grants concessional loans ranging from $5 million to $15 million for every project approved by IRENA.

The first three stages of the programme enabled the development of more than 68 MW of solar, hydropower, geothermal, wind or biomass power plants. Output from these stations was injected both in local grid and off-grid networks and provided electricity to around 760,000 people.

In January 2016, $46 million in financing was announced for four nations namely, Burkina Faso, Senegal, Cape Verde and Antigua and Barbuda.

Gwladys Johnson