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Emirati $50m fund invests in 3 solar energy projects in Caribbean

Emirati $50m fund invests in 3 solar energy projects in Caribbean
The three projects could withstand extreme weather

Abu Dhabi – Mubasher: This week will see the inauguration of three climate-resilient solar power projects in three Caribbean countries.

Located in Bahamas, Barbados, and Saint Vincent, the projects were constructed under the $50 million (AED 183.65 million) UAE-Caribbean Renewable Energy Fund (UAE-CREF).

The three projects were designed to withstand up to 160 miles per hour winds and extreme weather and will produce 2.35 megawatts of solar energy and 637 kilowatts/hour of battery storage capacity, the Emirates News Agency (WAM) reported.

"By funding renewable energy solutions globally, Abu Dhabi Fund for Development (ADFD) is enabling Small Island Developing States to tackle their development challenges, meet their outlined priorities, and optimise the use of their natural resources,” ADFD’s director-general, Mohammed Saif Al Suwaidi, commented.

Launched in 2017, the UAE-CREF is a partnership between the UAE ministry of foreign affairs, the ADFD, and Masdar.

"Masdar is pleased to leverage its global expertise and experience in renewables to support the Caribbean’s sustainable energy transition, as well as its climate resilience," Masdar’s CEO Mohamed Jameel Al Ramahi said.