Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTJune 20 (Renewables Now) - The Abu Dhabi Fund for Development (ADFD) has inked a deal to invest USD 400 million (EUR 380.3m) in a platform launched by The International Renewable Energy Agency (IRENA) to finance renewable energy projects in developing countries.
IRENA’s Energy Transition Accelerator Financing (ETAF) initiative was launched in November 2021 in a bid to deploy 1.5 GW of renewable energy capacity in developing countries by 2030. The platform will seek to raise at least USD 1 billion.
Apart from ADFD’s anchor investment, the platform will also receive a soft capital commitment to equity investment in projects until 2030 by Abu Dhabi Future Energy Company. The Abu Dhabi-based renewables developer, better known as Masdar, has signed a Letter of Intent to join the platform, as well.
ETAF is meant to accelerate the expansion of renewable energy in developing countries and back projects that need financing. The projects in the pipeline of the platform will be selected through open calls and will get technical assistance and project facilitation support from IRENA.
(USD 1.0 = EUR 0.951)
Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTCorio, Jera ready Formosa 3 for Taiwan offshore wind auction
Jul 01, 2022 16:12 CESTCost of new renewables climb, but gap to fossil power widens
Jul 01, 2022 16:07 CESTGermany opens public consultation on offshore wind development plan
Jul 01, 2022 15:48 CESTEast Energy, utility to use green H2 to decarbonise district heating in Brandenburg
Jul 01, 2022 15:43 CESTBiden pledges to take action as court limits EPA's authority
Jul 01, 2022 15:38 CEST