A key project finance facility brings USD 44.5 million in concessional loans to transformative renewable energy projects in developing countries.

The International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD) have collaborated on a joint Project Facility that finances replicable, scalable, and potentially transformative renewable energy projects in developing countries. ADFD committed USD 350 million in concessional loans, over seven annual funding cycles, to renewable energy projects recommended by IRENA.