Energy Transition Accelerator Financing (ETAF) Platform<\/a>. The signing of the Letter of Intent with Masdar paves the way for renewable energy projects through technical advisories and equity investments.<\/p>\nMohammed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development (ADFD), Mohamed Jameel Al Ramahi, Masdar\u2019s Chief Executive Officer, and Francesco La Camera, Director-General of IRENA, signed the agreements and also delivered remarks at the signing ceremony.<\/p>\n
\u201cThe financing development, business expertise and financial commitment of ADFD and Masdar to ETAF is a testament to the UAE\u2019s strong commitment to supporting the global energy transition. It will enable IRENA to facilitate capital mobilization and significantly accelerate the energy transition in developing countries,\u201d said La Camera.<\/p>\n
\u201cWith strong, committed partners, I\u2019m certain that this platform will be transformative in the pursuit of a just, inclusive, and prosperous future.\u201d<\/p>\n
\u201cToday’s agreement reflects our commitment to our sustainability goals. The ETAF platform supports the strategic objective of the UAE to unite global efforts to address climate change through the promotion of renewable energy,\u201d said ADFD Director-General Mohammed Saif Al Suwaid.<\/p>\n
\u201cADFD\u2019s funding supports the objectives of the platform, as it attracts new investment, and provides innovative solutions and financing tools to promote renewable energy in developing countries.\u201d<\/p>\n
\u201cMasdar is proud to build on our already strong relationships with IRENA and ADFD by joining the ETAF platform, an important tool to help finance renewable energy projects in developing countries, and one that will leverage Masdar\u2019s expertise as a global renewable energy powerhouse. Today\u2019s agreement reinforces Masdar and the UAE’s steadfast commitment to supporting the developing world in the energy transition\u201d said Masdar CEO Mohamed Jameel Al Ramahi.<\/p>\n
By joining the ETAF Platform, Masdar leverages its extensive expertise as an international renewable energy project developer and operator to increase bankability and attract investors to ETAF projects.<\/p>\n
Masdar will also provide a soft capital commitment to equity investment in projects until 2030.<\/p>\n
ETAF is a multi-stakeholder climate finance platform, targeting the deployment of 1.5 gigawatts of new renewable power in developing countries by 2030.<\/p>\n
The signing formalizes ADFD\u2019s commitment of $ 400 million in funding and is a significant step towards the platform\u2019s goal of securing a minimum of $ 1 billion.<\/p>\n
\n","protected":false},"excerpt":{"rendered":"
The International Renewable Energy Agency (IRENA) signed agreements with the Abu Dhabi Fund for Development (ADFD) and The Abu Dhabi Future Energy Company (known as Masdar) at the Agency\u2019s headquarters. The agreement with ADFD formalizes the fund\u2019s anchor investment of $ 400 million to IRENA\u2019s\u00a0Energy Transition Accelerator Financing (ETAF) Platform. The signing of the Letter […]<\/p>\n","protected":false},"author":410,"featured_media":78219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6038,984],"tags":[],"yoast_head":"\n
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