To date, the Facility has mobilised over USD 630 million for 21 renewable energy projects in developing countries
The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.
Since 2014, the Facility has implemented five funding cycles, resulting in the allocation of USD 214 million in
ADFD loans to 21 projects. An additional USD 420 million in co-financing has been attracted to these projects
from other funding sources, including governments, the private sector and other development funds.
Almost 120 megawatts (MW) of new renewable energy capacity will be brought online as a result of the first five cycles, through a wide range of technologies. These include: grid-connected solar photovoltaic (PV), decentralized solar PV rooftop kits, solar home systems, hybrid wind and solar mini-grids, hydropower, geothermal and waste-to-energy.
The projects support national priorities to advance sustainable development through the deployment of renewable energy. More than 3.5 million people will benefit through greater access and affordability of energy, job creation, environmental and health benefits and improved livelihoods.