The Abu Dhabi Fund for Development (ADFD) and International Renewable Energy Agency (IRENA) have selected a 2.1-MW small hydro project in Liberia as one of the renewable energy projects to be funded by ADFD, as part of the sixth cycle of the IRENA/ADFD Project Facility.
The other projects chosen are solar facilities in Guyana and Togo.
The facility helps developing countries access low-cost capital for renewable energy projects to increase energy access, improve livelihoods and advance sustainable development. With ADFD committing US$350 million over seven funding cycles to the IRENA/ADFD Project Facility since 2013, this announcement brings cumulative funding to date to US$245 million.
In Liberia, the loan of US$8 million will contribute to the construction of a 2.1-MW run-of-river hydropower plant on the Gee River. The project will benefit more than 30,000 people through providing a clean, reliable and affordable source of energy to households, schools, health facilities and small businesses, enhancing living conditions and helping to reduce poverty, IRENA said.
“The projects selected this year will contribute towards meeting national energy access targets and will transform lives for the better,” said IRENA Director-General Adnan Z. Amin. “They will take advantage of cost-effective renewable energy to help reduce poverty, enable income-generating activities, and provide electricity to healthcare facilities and educational institutions, which will create jobs, empower women, and strengthen local communities.”
His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “We are proud of our result-oriented Facility that has supported replicable, scalable and potentially transformative renewable energy projects set to benefit communities and improve their living conditions. Today, at the Ninth Session of the IRENA Assembly, we are pleased to have selected truly impactful projects valued at US$31 million for the sixth cycle of financing awarded by the Facility. Taking into account this cycle’s recipients, our cumulative expenditure to date is US$245 million, and we look forward to allocating the remaining US$105 million to awardees of the seventh cycle.”
In Guyana, a loan of US$8 million was provided to install a 5.2-MW grid-connected solar PV systems in the hinterland regions. In Togo, a 30-MW grid-connected solar PV plant will be constructed with the investment of a US$15 million loan.
In 2017, Poyry released data indicating Liberia shows a high potential for small hydro (1 MW to 30 MW installed capacity).