IRENA, or the International Renewable Energy Agency, in conjunction with the Abu Dhabi Fund for Development (ADFD) have issued $46 million in concessional loans for four renewable energy projects in developing countries; three of those projects are in Africa.
The loans for renewable projects include a solar project in Burkina Faso, a solar and wind project in Capo Verde, and a solar project in Senegal. The fourth project is a wind and solar project in Antigua and Barbuda.
The projects will result in 12 MW of new renewable energy capacity, reduced emissions, job creation, and electrification of rural communities without access to modern energy services.
The Burkina Faso solar project is a 3.6-MW solar PV mini-grid project. The project will receive $10 million to provide modern energy services to more than 12,000 local families. In Cape Verde a 2-MW grid-connected solar PV and wind project will receive $8 million to provide a 100% renewable energy solution for the island of Brava. The loan to Senegal, in the amount of $13 million is for a 2-MW solar PV mini-grid project.