ABU DHABI- The UAE-Caribbean Renewable Energy Fund, valued at AED183.6 million (US$50 million), has launched its second funding cycle by establishing partnerships with seven new Caribbean countries, on the sidelines of Abu Dhabi Sustainability Week 2018, with the aim of promoting its role in developing the renewable energy sector in Belize, the Dominican Republic, Grenada, Guyana, Haiti, Saint Kitts and Nevis, and Saint Lucia.
During the funds announcement on the sidelines of 8th session of the International Renewable Energy Agency, IRENA, General Assembly, Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has stated that the UAE has a prominent international role in promoting renewable energy solutions and finding effective solutions to key challenges facing renewable energy projects and innovations, which is reflected in the availability of necessary funding and investments in the country.
He added that the UAE-Caribbean Renewable Energy Fund, which was launched last year during the Abu Dhabi Sustainability Week 2017 to finance a series of renewable energy projects, is one of the countrys key initiatives to promote relevant global energy solutions.
The announcement on the launch of the funds second funding cycle, which will include establishing projects in the nine Caribbean countries and add to existing projects in five countries in the region that were launched during the first funding cycle, highlights the UAEs commitment to support international efforts related to the global transformation of energy, he further added.
Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, said that these new projects, which will help to consolidate the UAEs relations with Caribbean countries, have promising qualities in terms of decreasing economic costs, limiting environmental pollution, improving the living standards of the people of these countries, and enhancing the services offered to them.
Copyright Emirates News Agency (WAM) 2018.
During the funds announcement on the sidelines of 8th session of the International Renewable Energy Agency, IRENA, General Assembly, Dr. Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, has stated that the UAE has a prominent international role in promoting renewable energy solutions and finding effective solutions to key challenges facing renewable energy projects and innovations, which is reflected in the availability of necessary funding and investments in the country.
He added that the UAE-Caribbean Renewable Energy Fund, which was launched last year during the Abu Dhabi Sustainability Week 2017 to finance a series of renewable energy projects, is one of the countrys key initiatives to promote relevant global energy solutions.
The announcement on the launch of the funds second funding cycle, which will include establishing projects in the nine Caribbean countries and add to existing projects in five countries in the region that were launched during the first funding cycle, highlights the UAEs commitment to support international efforts related to the global transformation of energy, he further added.
Reem bint Ibrahim Al Hashimy, Minister of State for International Cooperation, said that these new projects, which will help to consolidate the UAEs relations with Caribbean countries, have promising qualities in terms of decreasing economic costs, limiting environmental pollution, improving the living standards of the people of these countries, and enhancing the services offered to them.
Copyright Emirates News Agency (WAM) 2018.
