$15m renewable energy project launches in Cuba
Published: 5 July 2019 - Carly Wills
Abu Dhabi Fund for Development (ADFD), together with Cuba’s Ministry of Energy and Mines and International Renewable Energy Agency (IRENA), has inaugurated a new 10 megawatt (MW) solar PV project.
The grid-connected project was financed by ADFD with $15m under the IRENA/ADFD Project Facility and will deliver enough electricity to power the equivalent of nearly 7,000 Cuban homes.
The solar PV project contributes to the Cuban government’s national objectives to reduce the use of fossil fuels for electricity generation and increase the share of power from renewables to 24 per cent by 2030. This project will mitigate around 12,700t CO2 emissions annually.
His Excellency Mohammed Saif Al Suwaidi, director general of ADFD, said: “ADFD is proud to have partnered with the Cuban government and IRENA in completing this crucial 10 MW solar PV project. We are confident that the impact from this renewable energy venture will ensure widespread economic, environmental and social benefits to the Cuban people.”
The project was approved for funding by ADFD during the second cycle of the IRENA/ADFD Project Facility as part of the ADFD initiative launched in 2013 with a commitment of $3500m over seven funding cycles to support renewable energy projects in IRENA-member developing countries.
To date, ADFD has provided concessionary loans cumulatively valued at $245m to 24 renewable energy projects over six cycles of the IRENA/ADFD Project Facility.