Project aligns with Cuban government’s renewable objectives
A 10-megawatt (MW) solar PV project has been launched by Abu Dhabi Fund for Development (ADFD), the Cuban Ministry of Energy and Mines and the International Renewable Energy Agency (IRENA). The project will deliver enough power to nearly 7,000 homes and will reduce 12,700 tons of CO2 emissions annually.
According to a report by WAM, ADFD financed the solar PV project with $15m under the IRENA/ADFD Project Facility. The project is said to contribute to the Cuban government’s national objectives to reduce the use of fossil fuels for electricity generation and increase the share of power from renewables to 24% by 2030.
The inauguration took place in the presence of Livan Arronte, Cuba’s vice-minister of Energy and Mines, Bader Almatrooshi, UAE Ambassador to Cuba and Francesco La Camera, director-general of IRENA.
“ADFD is proud to have partnered with the Cuban government and IRENA in completing this crucial 10MW solar PV project. We are confident that the impact from this renewable energy venture will ensure widespread economic, environmental and social benefits to the Cuban people,” said Mohammed Saif Al Suwaidi, director-general of ADFD.
He added that the ADFD’s interest in the renewable energy sector reflects its dedication to supporting international efforts to achieve the outlined energy priorities of developing countries and the United Nations Sustainable Development Goals, UN’s SDGs, as well as contribute in meeting global climate targets.
The project was approved for funding by ADFD during the second cycle of the IRENA/ADFD Project Facility. It is part of an ADFD initiative that was launched in 2013, with a commitment of $350m over seven funding cycles, to support renewable energy projects in IRENA-member developing countries.
Al Suwaidi remarked, “As an active member of the international community and under the leadership of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the UAE proactively supports global efforts to achieve the outlined objectives of the UN’s SDGs. The UAE and Cuba enjoy long-standing and robust bilateral relations. This project is a testament to cross-border collaboration in supporting transformative renewable energy projects across the world.”
Raul Garcia Barreiro, minister of Energy and Mines explained, “Not only has the funding from ADFD helped in achieving outlined national priorities, but also helped in the completion of this transformative venture. The unique and important partnership with ADFD has aided in meeting the country’s energy targets.”
ADFD says that it has provided concessionary loans cumulatively valued at $245m to 24 renewable energy projects over six cycles of the IRENA/ADFD Project Facility.