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IRENA/ADFD Financial Initiative
Description/achievement of initiative

Provide new and additional concessional funding of $350 million over seven years for innovative pathbreaking renewable energy projects with important demonstration efforts.

Implementation methodologies

By providing new and additional concessional funding of US$ 350 million over a period of seven years for innovative path breaking renewable energy projects with important demonstration effects. The Abu Dhabi Fund for Development (ADFD) has made available US$ 350 million in new concessional funding for renewable energy projects of innovative character that are approved by IRENA.

Arrangements for Capacity-Building and Technology Transfer

Coordination mechanisms/governance structure

Partner(s)

IRENA Members and IRENA Signatories.
Open to additional partners.
Progress reports
Goal 7
2013
First traunch of US$ 50 million will be committed.
2014
Review of experience in the first year, and the development of mechanisms for commitment of US$300 million for the next six years.
Financing (in USD)
350,000,000 USD

Basic information
Time-frame: - 2014
Website
Partners
IRENA Members and IRENA Signatories.
Open to additional partners.
Countries
Contact information
United Nations