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FINANCIAL NEWS
UAE plans to fund solar projects in four pacific island countries
18 Jan 2015
(MENAFN) The UAE confirmed that it has signed partnership agreements to fund renewable energy projects in four Pacific island countries including the Marshall Island, Nauru, Palau, and Solomon Island, local media showed, Gulf Business reported.
The projects will be financed from the USD50 million UAE-Pacific Partnership Fund, with grant financing from Abu Dhabi Fund Development (ADFD), it was announced during the ongoing Abu Dhabi Sustainability Week.
The four new projects to be delivered include 600 kWp solar photovoltaic (PV) plants in the Marshall Islands and the Solomon Islands, along with a 500 kWp solar PV plant in Nauru.
In Palau, the fund will deploy 434 kW of solar PV across the islands of Koror, Peleliu and Angaur, including the delivery of 100 solar systems, each 1.7 kW, as part of a clean energy loan program.
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